I think most intelligent people are now slowly waking up the reality that Gordon Brown single handedly stole the pensions of the Industrial & Commercial workers of the UK, makes Maxwell look like an amatuer.

Lets look at some of his previous form.

Do you remember Spring 2000 ?
One of the events that happened then was the auction of thin air called the 3G mobile licences in which the morons running the mobile phone industry paid the Brown one just a shade under £23,000,000,000 thats £23 billion for the 3G licences.

A neat trick.

I was re reading earlier a report produced at the time by the Academics from Oxford University & University College London who advised on the auction. Buried away in the 26 page document is the note:

"The British Treasury used the money towards paying off the National Debt"
they further noted that the sum raised

"was equal to 2.5% of the UK Gross National Product"

and was sufficient " to build 400 new hospitals"

on the face of it very commendable - however -

if we then look across at The House of Commons Research Paper 01/117 which deals with a strange sleight of hand known as PFI (thats Private Finance Initiative) in which an accountancy trick is used to pretend that the Public Finance & Borrowing requirement is not as high as it really is.

In the Research paper we see that as at 2001 the Treasury ( run by the Brown one, remember)had signed PFI contract that coincidentally added up to £20 billion

with me so far ?

The real killer in these agreements is that the very least that future generations will have to pay back under the PFO contracts is £100 billion over 25 years (not my figures, these are Treasury figures) Of course the figure will be much, much bigger because Civil Servants are, as I know from personal experience, incapable of managing anything.

So good old Gordon shags the mobile industry for £23 billion and pays off old debt - He then borrows ( but pretends he hasn't) another £23 billion which our children will have to pay back at least 4 times over.

There is of course another nasty twist in this little escapade, the 3G licence purchasers have subsequently realised their position and have " written off " most of the expenditure, neat trick because the write offs are offset against their tax liability, so thats billions of tax that they do not have to pay or put it another way they take back the billions they paid in the first place.

So instead of 400 hospitals wholly owned by the people we are lumbered sadly with the debt now incurred under PFI that doesn't go away, thats real - still think he was a good Chancellor?