Thursday, February 19, 2009

Stating the bleedin' obvious

The BBC brings us this startling revelation today.

The recession is taking its toll on public finances, official figures show.

Well, who'd've though that? Actually, pretty much everyone - only most of us don't need "official figures" to know that as it is almost as obvious as BBC bias. The only difference is that the BBC doesn't bother to hide its bias the way the government tries to cover up the yawning truth that our economy is well and truly screwed.

The Office of National Statistics, which releases the public finance figures, also said that it plans to incorporate the finances of the Royal Bank of Scotland (RBS) and Lloyds Banking Group into the public finance balance sheet.

It said this could add between £1 trillion and £1.5tn to public sector debt - between 70% and 100% of the UK's GDP.

That's an addition to the public sector debt - not the whole debt.

Despite the ever-growing debt burden, the government has made it clear that it will borrow more money if necessary in order to boost the ailing economy.

Yeah? From whom?

1 comment:

an ex-apprentice said...

Only the BBC could make an additional £1 trillion sound like an incidental expense.