Sunday, January 3, 2010

Massive Treasury Lying Exposed?

Now you see it now you don't.

In the December Treasury UK Government Spending Outturn Reports a new element suddenly appeared in the tables called 'Accounting Adjustments'. Sterling detective work at The Tap Blog reveals that this new element has appeared after it was pointed out that the grand total and the combining of the sub-totals didn't match.

If you added up the sub-totals then government spending would have been 58% of the UK's GDP. This does't match up to Gordon Brown's forecasts so they had to go.

Apparently the largest accounting adjustment in previous years amounted to GBP 10 billion but now we're looking at minimum GBP 180 billion. I'll bet the SNP could reach their teacher targets with that loot and still have enough left over for umpteen GARLs!

None of this money is itemised.

Miraculously, government spending forecasts are reduced from GBP 800 billion to around GBP 615 billion (or 30% of total spending - more than health) and very close to government forecasts which going into a general election period is, nice.

There's nothing in these accounts which reflect the losses the taxpayer has been hit for as owners of Royal Bank of Scotland according to Tap Blog. Shares were bought by the government at 65p and are now 29.5p meaning a loss of around GBP 10 billion. On top of that the debts owned by the bank which are toxic is likely to explode and yours 'taxpayer' truly is left carrying the can. And that's only 1 bank..

There's a lot of lying, spinning and robbing going on. Seems that Gordy new year's resolution was to get elected - at all costs to the taxpayer!

Is anyone going to wake up to this story? Nope, still smoking them green-shoots.

Happy New Year!


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