Hester is clearly uncomfortable and his excuses don't even reach the status of lame.
I should disclose that I met Faisal this week.
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Not a comment Mr Murphy, just a thought from a non-economist (me)
I am constantly being assailed, by press and other commentators, that the national dept is “appalling” and that “you wouldn’t run your household this way”
Well….depending on the source of data….it seems that an awful lot of households are run much worse than the country has been.
Average dept about 35k and average income about 25k, or worse, makes me think that the average person in the UK is worse off than the country !
@Johnm
The national debt is not a crisis
It’s not big by historic standards
It’s manageable
It’s no cause for destroying the economy
But households are in crisis – and that is an issue
So you’ve got it right
Which brings me to the IEA feature:
http://www.iea.org.uk/blog/the-real-level-of-uk-government-debt-is-around-%C2%A348-trillion
I’m not usually impressed by big numbers !
The phrase: “private agenda” springs to mind.
@JohnM
But that’s a gibberish number
If I add up all my cost of living for the rest of my life I am bust too – but it’s utterly meaningless as I will not be spending the cash until some time considerably in the future when I will have earned it
Typical IEA propaganda, but that’s all