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| Filling the holes |
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| Written by Giles Wilkes |
| Monday, 07 September 2009 12:21 |
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Today's Guardian editorial calls for "an open debate about getting the public balance sheets in order could dispel some of the ignorant shrillness that marks the current discussion." Hear hear: the Labour party does itself nothing but harm in keeping this vital issue muffled. The Guardian piece quotes A Balancing Act in how it dissects the future debt. I still stand by the figures, but realise I should have entered a qualification - the 9% figure for how much is accounted for by banking rescues fails to reflect how much might be recouped from the financial assets being bought or guaranteed. So, in fact, saving the financial system might cost far less, or even nothing. Given what this achieved for all of us, it's money well spent. |
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