Money used to pay deficit

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Richard Beck has once again highlighted his lack of understanding of the difference between the national debt and the deficit.

In what appears to be a smokescreen, he plucks figures from thin air without any supporting evidence or attribution.

Here is an attributed figure he has ignored.

For the fiscal year ending March 2017, the current budget deficit is estimated to be £19.1billion. (Budget deficit as defined by the Independent Office of Budget Responsibility).

Richard ends his letter with a question: “What have the Tories done with all the money?”

Well, I can tell him. They are paying off the record deficit run up by Labour.

Unlike figures bandied by Richard, I can attribute this statement: “At 10.1% of GDP, public sector borrowing was at its highest since records began in 1948.” Office of Budget Responsibility Public finances databank.

Peter O’Connor