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Friday, December 19, 2008

Sink or Swim Together

As the recession deepens, it is "heartwarming" to note that it is not just the ordinary citizens and businesses of Britain that are deeply in debt but also the government.

The Times reports that the Treasury plunged a record £16BN into the red in November. Given that the recession is still in its early stages, this does not bode well for government finances.

However, at least the government now knows the pain that the rest of the country feels.

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