Labour Spends Its Way Out of Recession

Summary


R ed ink manufacturers are probably one of the few industries able to benefit from the state of the public finances - gallons of the stuff have dripped from Alistair Darling's quill as he studies the nation's accounts.

Over the next two years, the Government is borrowing pounds348 billion, more than all governments combined before New Labour came to power. Total national debt is set to double to pounds1.4 billion. Just paying the interest on all this national debt now costs pounds43 billion a year.

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Extract


Labour Spends Its Way Out of Recession

Scarlet zeros line up across the Chancellor's ledger in ever- growing lines, mirrored by the lengthening dole queues as unemployment soars.

A year ago I likened Labo...

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