How shall we pay it back? By having a plan!

I was working on an event about CFO’s the other month, and needed some humour to illustrate advice you don’t want from current or former Financial Chiefs. With much joy, I found this;

And the following interview conducted by the BBC,  of a UK Govt minister talking about how the UK Govt. is going to pay back the 606Bn UKP debt it’s due to rack up in the next couple of years. As I can’t find the link anymore you’re have to forgive the slight paraphrasing.  The interview really did go something like this;

BBC Interviewer — How will you pay it back?

MP — by having a plan!

BBC — and what’s the plan?

MP — The plan is to pay it back!

BBC- Yes, and what is the plan?

MP — The plan involves passing legislation saying that we’re going to do this, it’ll have targets!

BBC — Yes, and we have targets for everything including NHS waiting lists, University education etc. and none of them have been met.

MP — No they haven’t, and that’s because of the 18 years of Conservative Govt ruining the economy, but this is different.

BBC — How?

MP — Because we’re the Govt, we say we’re going to do it and we have a plan.

BBC — Yes, with respect minister, having a piece of legislation doesn’t tell any of us how you are going to find 606Bn pounds over the next four years (assuming you win the election), to pay back this debt. How can you possibly pay back this much money without making savage cuts to public spending?

MP — Well, it’s quite simple — we have a plan. To pass legislation. Which will have targets. And we wont need to cut any public spending, because public spending is what will drive the economic growth to bring us out of recession.

BBC — So lets be clear, you’re not going to cut spending, you’re not going to raise taxes significantly, where is the money going to come from?

MP — As I said, it’s really quite simple, we’re going to have a plan.

BBC — And the plan.. — oh forget it.

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