little update... just when you think this idiot can't be anymore incompetent he is
todays official figures....
Public debt now stands at 89.4% of our national income (GDP), up from 78.4% when then the Tories came to power in 2010. This is despite Osborneâs policies for balancing the books bringing short-term single instance, rather than long-term continuous, returns.
In 2015, Osborne sold off a record ÂĢ26bn of our assets to the private sector. We may have gained ÂĢ26bn in the short-term, but these assets would be profitable for the taxpayer in the long-term. To illustrate, Osborneflogged off our remaining 30% stake in the Royal Mail in June 2015 for ÂĢ1.3bn. Yet Royal Mail revealedprofits of ÂĢ440m in 2013, up from ÂĢ152m in 2012. The financial year ending 31 March 2015, gifted another increase: ÂĢ740m in annual adjusted operating profit before transformation costs. Keeping this stake, or a larger one, would have made the public money.
Therefore, once theyâve got through selling off all the family silver, it is likely the Conservativesâ public debt fiasco is going to spiral even further. The private sector will continue to bloat â we will still need the services, but we will have to rent them back from the corporations. It is the equivalent of selling a cow and then spending years buying the milk and cheese back. Osborne and Cameronâs trigger happy privatisation agenda in 2015 even overshadowed Margaret Thatcherâs ÂĢ20bn bonanza in 1987.