# 73 JJ “No doubt it’s partly a consequence of our predatory liberal-democratic consumerism…..”
“A few hours later Mervyn King, the governor of the Bank of England, in effect accused the prime minister of mis-managing the public finances. “We are confronted with a situation where the scale of deficits is truly extraordinary,” he told the Commons Treasury committee. “This reflects the scale of the global downturn, but it also reflects the fact that we came into this crisis with fiscal policy on a path that wasn’t sustainable.”
“It gets worse. Balls has suggested most of his education budget will be preserved. In that case, according to Chote, the scale of the cuts Labour would have to make for other departments would rise to 13.5% over three years.”
AEG Live and AEG Europe are the promoters of the Michael Jackson concerts at the Millennium Dome. When the Government ‘sold’ the Dome to AEG. Part of the deal was ‘payment’ back to the Government (public purse)would be deferred until the venture came into profitability.
As it stands now AEG have 50 cancelled dates at the Dome. There is some debate as to whether they will be able to fill all if any of those slots.
The Dome and AEG will not be making any money.If the don’t get income they don’t make a profit. If they don’t make a profit they don’t have to pay the Government (us) back.
Follow the money. Private risk, public and social underwriting. The high risk MJ concerts (as I said were never going to happen) were effectively underwritten by Government, public, your money.
Now they didn’t tell you that on NN.
Whacko Jacko or Whacko Government?