Where did all the money go?
In case you weren’t aware, it’s holiday time for MP’s, so Gordon and co have turfed out their bad news into the daylight for all to see. A report from the National Audit Office states that there has been a massive slump in tax revenues of 32 billion pounds last year. This is considered to be the biggest drop in receipts since 1923.
It is also seen as ‘doubtful’ as to wether more than 40 per cent of debt owed to the government will be paid back. I think spending cuts and tax hikes are just around the corner. Hang onto your savings!
