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Whilst it is clear that the majority of MP’s still don’t understand how angry the electorate is about the way in which they have milked expenses for years, it is also clear that the Government itself has lost control of the public finances to an unprecedented degree. Figures released in the week ending August 22 show that the Government borrowed £8bn in the month of July 2009. This compares with a surplus of £5.2bn in the same month of 2008. The UK is now likely to suffer the largest deficit of all the major economies this year. Any global recovery projections seem to be based on unsustainable Government spending and the Chancellor’s prediction that the deficit this year would top out at £175bn already looks flawed and it now looks likely to be in excess of £200bn (don’t forget it is only August and the budget was not announced until late April, AFTER the tax year had started). How long will it be before they realise that it is time to start cutting costs and to create a business-friendly environment to assist the private sector to increase profits and ergo, to pay more taxes. Whichever political party gets into power next year has a dogfight on their hands!

Other news topics : Gala Coral Ladbrokes The Tote Camelot When is the Government going to "get it"?

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