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Article: Cavalier Cowen is driving us into debt.
- Article from:
- Daily Mail (London)
- Article date:
- March 5, 2008
CopyrightCOPYRIGHT 2008 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HALF a billion euro is a lot of money to be short. That is the gapbetween Brian Cowens expected tax take and the amount the slowing economy hasactually provided.
This is not small change. If that trend line continues through the yearand it could at least as easily get worse rather than improveit would mean that come Christmas, the Government will have racked up debtamounting to more than ?6,000 for each and every household in the country. Thatis a formidable burden to heap on the public finances, especially when it isremembered that our levels of personal debt are already almost the worst inEurope.
Not only is it a crushing debt to inflict on a weakening ...