Jeremy Hunt misled us about the National Debt

Jeremy Hunt’s last Budget looks set to go down in history as the biggest pack of lies ever told by a politician in one statement.

It’s hard to know where to start picking at his hour-long stream of nonsense, but here’s one item the BBC has teased out, on the national debt. I refer you to “head of statistics” Robert Cuffe:

In his Budget statement, the Chancellor said that the UK’s debt was “falling in line with our fiscal rules”.

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The government’s rules only require that it falls once in the next five years: between 2028 and 2029.

In other years of the forecast, debt is not set to fall – it will rise three times and hold flat once.

The UK’s debt is forecast to be higher five years from now.

People will have heard him say that the National Debt is falling when in fact it isn’t.

Possibly the worst aspect of this is that it doesn’t really matter. It would be a worry if the UK was unable to pay interest on the debt, or it spiralled out of control, causing an inflation crisis. But the recent increase in inflation had nothing to do with government debt.

The UK’s current problems arise from what the government has been doing with the money it has been spending, that has caused the debt – giving it to very rich friends of the Tory Party, in return for nothing at all, meaning that they have had the wherewithal to buy the nation’s assets – businesses and property – pricing the rest of us out of our own market.

Hunt didn’t have a word to say about all that because it suits him to hide the fact that deliberate government actions have made most of us worse-off.


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