Rachel's black holes
Wind the clock back to 2024 and Rachel was making a big fuss about financial Blackholes. She moaned on an almost daily basis that those nasty conservatives had left her with a £20 Billion blackhole in their finances.... So fast forward to June 2026. In 2024/25 Rachel increased net borrowing by £148 Billion. In 2025/26 she then increased borrowing by £132 Billion and so far in April/May 2026 she has increased borrowing by an additional £46Billion (now £23 Billion per month) That comes to £326 Billion in roughly 24 months which means an average of £13.6 Billion per month. It's beginning to look like the original £20 Billion blackhole was more a pimple than a blackhole. Where has this money gone? It's hard to point to any tangible assets. It looks like it's been spent on NHS pay settlements, welfare spending, education (probably teacher pay rises). Some has gone onto house building. So when Labour came to power, the debt pile was £2.7 TR...