Lord Tebbit asks the question we would all like an answer to
From Lords Hansard:
"To ask Her Majesty's Government how they define “spending” and “investment” in relation to public expenditure".
And this is what Lord Myners had to say:
"Public sector current expenditure: is the sum of the current expenditure of general government and certain distributive transactions (interest and rent) paid by public corporations to the private sector and abroad" etc
Whereas
"Public sector net investment is all public sector capital expenditure less an amount representing all public sector depreciation".
I would like to see someone attempting to trip up the PM with that one, as by Treasury definition, non-capital expenditure is not investment, is it? I am not holding my breath.
"To ask Her Majesty's Government how they define “spending” and “investment” in relation to public expenditure".
And this is what Lord Myners had to say:
"Public sector current expenditure: is the sum of the current expenditure of general government and certain distributive transactions (interest and rent) paid by public corporations to the private sector and abroad" etc
Whereas
"Public sector net investment is all public sector capital expenditure less an amount representing all public sector depreciation".
I would like to see someone attempting to trip up the PM with that one, as by Treasury definition, non-capital expenditure is not investment, is it? I am not holding my breath.
Labels: Parliament
This entry was posted
on Wednesday, January 14, 2009 at 11:09 am.
You can skip to the end and leave a response.
I've always liked Norman.
Spitting Image depicted him perfectly, and did wonders for my estimation of him.
Me too. I've got a signed copy of his memoirs.
I was the publisher's copy-editor for his memoirs, back in the seventies. Particularly liked the bit where he flew a Meteor through a hangar, removing the wings in the process.
This comment has been removed by a blog administrator.
» Post a Comment