The ONS info is confirming many other people's previous predictions: that UK national debt could treble; making things worse is that as debt increases the tax receipts are falling*, down 11% in January. Click on image to enlarge (PDF) the excellent graphic in The Guardian.* Burning Our Money has numerous blogposts on tax: just for info, four years ago (!!!) they estimated Britain's losses just to tax fraud and evasion are currently within the range £60-80bn every year. OK, I know that isn't entirely relevant re the reasons for current falls in tax receipts but it does highlight a major part of the overall problem. Paul, I know you're one of those mentioning falling tax receipts but I couldn't find a relevant blogpost (I did look!)!
Span, I think there was a problem in blogland yesterday as I made 4 attempts to post a reply!
YanıtlaSilI think I've commented on the tax take rather than posted about it specifically. I smiled at the first part of the graph (I know I shouldn't) the bit that says 'before it all went wrong.'
Oh man, you are going to be so pissed off when you discover you've not had so many replies!
YanıtlaSil(and one is still missing!)