So reads the headline of an alarming article in yesterday's City A.M. The source of the story is some pretty remarkable research from the Centre for Economics and Business Research. In sum -
While the South East has relatively low public spending, forecast to rise from 32.4 per cent of regional GDP in 2007-08 to 40 per cent next year, Northern Ireland and Wales’ state spending is expected to jump from 59.4 per cent and 57.5 per cent of GDP respectively to more than 69 per cent.
To put those figures into context, government spending as a share of GDP in Cuba – a communist country – is set to fall to 60 per cent next year.
Blimey.
