The FT’s Westminster blog flags up this quite astonishing statistic:
‘The FT’s resident economics guru Chris Giles has a flabbergasting explanation of the scale of the debt the government is raising in the next two years: £350bn.
“That is more debt bequeathed to its successor than the total borrowed by successive rulers and governments of Britain between 1691 and 1997, the year Labour was elected.”’
Normally, Prime Ministers who do not lead their party to an election victory and serve only part of a Parliament are mere footnotes in history. Brown will avoid that fate. But he will go down in history as one of the worst Prime Ministers this country has had since the second Reform Act.
350 Billion - just how much is that?
Thanks to Coffee House
And UKLP Blog