"I Don't Believe That For ONE Moment!" | Former Conservative Party Leader On £22bn Black Hole

Chancellor Rachel Reeves faces a fresh headache ahead of her first Budget this autumn after official figures revealed government borrowing jumped by more than expected last month.
Borrowing rose to £13.7 billion last month, marking the third highest August on record, driven by higher spending on public services due to increased running costs and pay increases.
The increase means public sector debt hit 100% of gross domestic product (GDP) at the end of August 2024.
The figure, which excludes public sector banks, means national debt is at levels last seen in the early 1960s, the Office for National Statistics (ONS) said.
Talk’s Alex Phillips is joined by former Conservative Party leader Iain Duncan Smith, who says he “doesn’t believe for one moment” there was a £22 billion ‘black hole’ left by the Tories.
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#labour #keirstarmer #rachelreeves

[@omgitsabloodyandroid5161]

NOT paying £8 Bn for ILLEGAL Gimmegrants would solve this

[@butlerpa100]

Nearly £10 Billion in Union payoffs. Yes they made their own black hole.

[@ade3628]

Only thing he's in control of is doing the WEFs bidding

[@sandralgkk]

Why does Britain borrow money? Are they borrowing money to send to other countries? It makes no sense to me! 🤔🇬🇧

[@Darren-i8k]

When they say borrow they mean print.

[@ruthcollins2841]

Bailey has been the worst Governor of the BofE since it became independent from politics on 6th May 1997 less than a week that LIEbour won the GE! It was bad enough under Carney 2013 - 2020! Bailey was useless as head of the FCO so why was he given this job?? 😡😡😡😡😡🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🐽🐽🐽🐽

[@uk2k007]

The blessed I D Smith, basically said that the BoE choose when to sell... so the Truss error was less a blunder and more of a poorly timed BoE "buy back"..

[@oldshiny3012]

the great gaslight of starmers reign

[@BULLEAD]

Despite this supposed black hole, they keep finding more money to give away to other countries.

[@deltafox9630]

Ian..I reckon you lost Rachel Reeves as soon as you started talking

[@brendaalexander1923]

😢 Alf garnett cost of living 50year ago god help this country

[@davidanderson7138]

and lets not forget the £8 billion to foreign countries for their "net-zero" projects!

[@currysauce-ft3yf]

guy fawkes is a suriety irish influiences will never be a part of the british parliament

[@dominiclane8538]

Huh

[@philipmawford9635]

I just realized the black hole you keep talking about is not Diane Abbott!

[@colinbridge703]

Reform all the way💯💯💯

[@Dan-mm1yl]

100 percent agree Duncan smith should have been PM at some point

[@dereknesbitt5378]

Much as I'd no time for Hunt, I didn't believe for a moment he'd left a mess of that magnitude. I'm more inclined to think labour wanted to shock the public at a time when their rival was beaten and to finish them off. Bollocks!

[@DeneMonkey]

So you not blaming Labour

[@peterdockerty8077]

Always loved IDS but his party riven by b(W)ankers and due to that Farage will become the next PM

[@Hi2fgtytcvcnjbmn]

Reeves is eating well. Filling that black hole

[@Daisy-tl2lh]

One y/tuber came up with Kier and Victoria sponge ... just about sums them up ...

[@rvp589]

IDS Conservative.... so what's he doing in a centre left party . Why not move to the property Conservative party, like Anne. Telling us how bad Labour are... andcthats true... a bit difficult to take from someone in a party that did nothing good in 14 years and in effect put Labour in power... Do the right thing and move to Reform