UK DEFICIT: Hidden in the figures – how Camerlot fiddles ‘reduced’ the deficit

3 Oct

The Slog.

To quote the Prime Minister yesterday, “with the stroke of a Minister’s pen” his Chancellor has made him a bare-faced liar.

ozzsleeveChancellor Goebbels Osborne: everything up his sleeve

David Cameron made great play yesterday of how Britain’s deficit is falling…..because his Government has been austere, and because the economy is “turning the corner”. I posted earlier to demonstrate what complete tosh the latter of those claims is. Now here’s another Slogpost to deconstruct the complete bollocks that is the former claim.

First up, let’s reiterate one more time for luck the nonsense that this “austerity” represents. Actual Government expenditure is still rising. In the latest reported quarter for 2013, expenditure increased by 0.9%, the fourth consecutive quarterly increase.

Secondly, let’s not forget that the Draper’s savings are still dwarfed (by a factor of eight) by the huge amounts of QE money chucked at an economy which,

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