At the council's cabinet meeting on Thursday, the jaw-dropping size of our share of the bill for our 'Boom and Bust' economy became clear, with the publication of the budget and medium term financial strategy report, which the local paper reports as being close to £6 million over the next five years. People often forget that approximately 60% of the council's funding of the net revenue budget, (the costs of providing core council services), comes from central Government and with the lights now being switched-off at the Treasury and money being frantically printed across the road at The Bank of England, councils across the land will soon feel the harsh consequences of what is now £200 billion of public debt.
Normally, the Labour group promptly sends out a press release after Cabinet meetings in an effort to convince anyone who might bother to read it that they weren't asleep after all. This time they appear strangely silent, although we did hear, with regular interruptions through the evening, Councillor Iris Johnston, bobbing up and down and forcefully reminding us of the manifest wonders and unappreciated benefits of a Labour Government . This, in the same week that we were given the news of the longest period of negative growth since the Second World War. Thanet's own budget challenges, we are told are all uniquely the fault of Lehman Brothers. Nothing whatsoever to do with Gordon Brown and Alasdair Darling and Northern Rock and Royal Bank of Scotland and HBOS and Afghanistan and Iraq and all those other inconvenient stories which never happened in New Labour's revisionist wonderland of shifting truths.
I really think it's time that Labour and its apostles stopped trying to convince us, locally and nationally about its wonderful track-record in Government and instead did a more convincing job of reassuring us that they have some idea of how to handle the consequences of a decade of mismanagement. and a national debt of almost unimaginable size!
Changing the subject to a more important matter of history , it's Remembrance Sunday tomorrow and I will be walking the wreath, donated by the Margate Charter Trustees, in the parade to the Westgate war memorial in Sea Road from St Saviours Church at 11:30. I hope to see some of you there.