So, even based on Darling's (by consensus wildly optimistic) growth assumption for next year and beyond the government's (hence our) debt will be £1.4 trillion by 2014/15. That's a lot of money - my calculator can't cope with that many noughts. Add to that the Towers Watson £1.2 trillion estimate of the unfunded liabilty for public sector pensions and you have a total debt of @ £90,000 for every income tax payer in the land.
Such staggering incompetence will no doubt be rewarded by a peerage in due course. The rest of us would have appeciated a little more honesty, such as that shown by the Irish Government. Without it, the pain may be a little less but it's likely to last a lot longer.
If Blair, Brown and Darling are worried about their place in history being remembered they should have no fear. The sad thing is that, despite their socialist pretensions, they are all far too rich to feel any pain at all - that's our job, apparently.
So, I would urge you to take whatever (legal) steps you can to reduce your own tax liability. I can help - it's now my favourite type of work!
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