Muammar Al Khadafi

Todays Mail highlights the terrifying scale of the debt facing Britain - £2trillion, close on £80,000 for every household in the country - and a picture of national bankruptcy without starkly rising taxes and savage cutbacks.

"Many people would be amazed to know that until now the government did not have a single set of accounts like any company would" says a Treasury source quoted in the story.

No, we really wouldn't, waste and gross financial incompetence have been the hallmark of successive governments for many years, with little sign of it changing. A lack of figures made that easier to hide and to deny.

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Foreign aid and EU contributions, not to mention numerous other costs of being some kind of half in, half out, EU lackey, anyone? Just a thought, look at how much we could save by 2060.

It is high time that our money was spent to the benefit of our country and our people, not squandered on every lunacy going as we race headlong towards a financial abyss.