Thursday, November 18, 2010

A modern miracle

With the economy in the hands of the pampered child Osborne, we see that Britain has slumped into the red by another £10.3 billion last month "despite a leap in business tax and VAT revenues". So says The Press Association, which tells us that the Office for National Statistics (ONS) records that public sector net borrowing in October set a record high for the month and marked an increase on the £10.1 billion seen a year earlier.

Given the increase in the tax take for the month, it looks as if those good ol' "Tory cuts" are really having an effect - another modern miracle at work.