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Sunday, 13 September 2009

Labour's borrowing is £5,500 per second this year

Ouch, I cannot say much more than that. Labour is hurting the national pocket and our individual pockets.

Nick Clegg is writing in today's Scotland on Sunday and as usual for Nick Clegg, it is a good piece picking up the key points and setting out our stall for the annual conference in Bournemouth later this week.

One thing Nick has sensibly highlighted is the astronomical debt that this Labour Government has got this country (and therefore us) into. Labour this year is borrowing £5,500 per second!

So, in the next minute, that will be more debt £330,000 and in the next hour a mere £19,800,000 - that is right, just short of £20million pounds.

Whoever wins the General Election will have some serious financial decisions to make over the coming years. The Tories aren't really making any major policy announcements on things like this, they have said about abolishing quango's but in reality that is only going to save peanuts, don't get me wrong it is all going to help - although all those people that currently work for the quango's will all then be claiming benefits of course.

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