Man in a Shed: Where is the government's balance sheet ?

Monday, May 19, 2008

Where is the government's balance sheet ?

Just spend a few minutes looking for a breakdown of where the UK government gets funded from.

The HM Treasury web site wasn't much initial help - just talks about spending.

Anyone know of any good links ? I'll have to go and look at the treasury's web site in more detail....

2 comments:

Tim Worstall said...: http://www.hm-treasury.gov.uk/pbr_csr/report/pbr_csr07_repindex.cfm

It's all in there.; 2:24 pm
Man in a Shed said...: OK digging a bit deeper in the appendices has helped. Thanks.

I was getting put of by all the spin in the chapter titles. ( Its amazing that civil servants allow this sort of thing into official documents.)

The question I'm asking myself is what is the impact of a drop in the housing market of 40% turnover ?

I suspect this question shouldn't be asked near Alistair Darling unless you have a defibrillator to hand and charged up.; 7:35 pm

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The pound in your pocket

"We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists." James Callaghan

“The trouble with theoretical economists is that they don't understand that when you have a deficit, you can only finance it by borrowing, and you've got to persuade people that it's worth lending money to you and that they'll get their money back... there's no way of escaping it.” Dennis Healey during the 1976 Stirling Crisis.

"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ... Lenin was certainly right. There is no subtler, no surer means of over-turning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." John Maynard Keynes, 1920.

"To preserve [the people's] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude." Thomas Jefferson, President of the United States of America,1801-1809.

Inflation is taxation without legislation .. Milton Friedman