When I clicked on the abreviated headline "Gordon Brown and Alistair Darling throw....." I half hoped it would read "in the towel"
Wishful thinking!

Peter, Paderborn, Germany

Our level of debt is actually quite modest. We are well below the Eurozone, Japan and US in terms of debt as a percentage of GDP. People on here write as if debt is all bad. One question then - How did you buy your home? Debt is fine if you have adequate income to pay for it, and the UK does.

Matt Pasterfield, Singapore, Singapore

Whatever these clowns borrow, the taxpayer will eventually foot the bill. Partly to finance our benefits system which allows a single mother who, when investigated for benefit fraud went straight to the job centre and signed on for more - and they paid her !(TV last night) What a bloody farce.

Bob, Cowes, UK

Tony, Islington, London, UK - most people are thick which is why they are fickle. Anyone with half a brain could see that the past 7-9 years growth where a total sham built on personal debt. UK plc is history if GB tries to bail it out this way. Then again perhaps that is what he wants...

Lloyd, UK,

Brown and Darling are determined that Osborne will have a really nasty mess to sort out when he becomes Chancellor.

Frank Upton, Solihull,

Lets face it with consumer spending about to be hit and home buying at a virtual standstill by comparison. Government will need to do everything in its power to make sure money flows through the economy.They would love to stick to their own policies but if they dont flex it's cold winter(s) for all.

Nigel Quinn, Sutton Coldfield, W Mids

Whatever Browns qualifications are (if any ) the economy of the UK was a step way too far for this laddie !! ...Yes anyone with their parents inheritance can set up in business for a few years and look pretty cool !

We have a very dangerous man in power here and you can't help feeling nervous !!

Pete, Stockport, UK

We are already in too much debt - individually & Govt. The Govt borrowed too much in the past & wasted it on Gordon's social engineering schemes. He will just waste this as well. If he wants to stimulate the economy he shd cut tax like the US: income tax, NI, VAT + stealth so we have money to spend

Donna Walker, Effingham, England

Gordon, you simply have to get a grip on State spending. The number of people wastefully employed in the public sector has grown fast under Labour and is far too high. Put this right, and the budget will come into balance in due course.

Guy Higby, Dunstable, UK

We are now told that the public deficit is the worst since 1946. Who was in Government from 1945 onwards?. Yes, it was another hopeless Labour Government. The UK had to borrow $Bns from the US that took until 2007 to repay. 1974/79 this time the IMF lent £Bns to a Labour Government. 2008 de ja vu!

pip, Croydon, uk

So Brown Master plan is to saddley the torys with so much debt then when they come to power after him, they will be so ham strung as for people to switch back to labour after one tearm in office, god will this many not do any thing for his own ends!

Debt is not the solution paying Mp's Less is!

MR W Jones, Liverpool, England

I think it's time for serious demonstrations. The UK taxpaying public need to make their voices heard and get these incompetent clowns out of government before UK PLC is the 3rd world country it's becoming. We're bankrupt. Thanks Gordon!

Health better under labour? Tried to find an NHS Dentist?

Phil, Rugby, England

They are just paving the way for another dose of Thatcherism.

DavidB, Brussels,

I wonder what will happen to Prudence now that Brown has been well and truly "rumbled" as a financial incompetent?

Neil, Gloucestershire, England

Why has Tony BLiar not been at the forefront of blame for the economic mess?. Simply because Chancellor Brown was given 'free reign' to do as he wished to maintain party unity. I'm sure BLiar did not agree with a number of decisions taken by the Treasury under Brown. It was either that or fragment.

paul, birmingham, uk

They have been around bankers too long. There is no downside to them of risking 10 years of economic malaise as the odds are they will be kicked out in 2010. If it works, they claim the benefit. If it fails, the Conservatives have a trashed economy to deal with. The McCon-Merchants Strike Again!

Stephen Bell, Cambridge, UK

In any ordinary "business", the directors have to cut thier overheads to match their reducing revenues. Why can't this Government cut its costs too. This hopeless Government seems to be oblivious to the real world and keeps on spending on borrowed money. We need less government not more!

Michael Denny, Carnwath, Lanarkshire

We are seeing unfold, a disaster of global proportions. Every time someone says we are over the worst, along comes another bombshell. The US is in deep trouble (getting deeper), the UK is headed down the pan, the EU has serious problems too. Developing countries will soon collapse. God hep us all!

Andrew Graham, London, UK

why, M Burns, do we need more money spent on defence? This year £32.6 Billion was spent on 'defending our country.' I personally didn't notice the attacking hordes, only the trouble that old Tony and Bush started abroad a while ago...

Danny, Inverness, Scotland

A new economic cycle began in March (says Darling)????? UK Govt = highest debt of G8 countries, UK residents = highest debt of G8 (by a very very large margin), UK companies = highest debt of G8 countries. And yet they all want to borrow more more more. This must be the bankruptcy cycle.

kr, nyc, usa

Its a shame the 4-5 years between elections is much shorter than the economic cycle. Gordon must continue to dig a bigger and bigger hole to prop up the economy long enough to give him hope of re-election (deluded hope).

Andy, London,

Having read all of the comments it is interesting that no-one points the finger at Blair, only Brown.

They are both responsible for this complete mess, if anything Blair moreso as he dictated the huge spending strategy of the late 90's - yet Teflon Tony seems to keep out of the mire?

Bill, Knaresborough, UK

Gordon, Easy print more money give everyone a wheelborrow and a blanket to keep warm ,dont foget to import both from China.

sean, cardiff,

The next Parliament needs to have 'English voting days'.

Then when it comes to taxation and spending, they are dealt with by MPs only from the various countries i.e. England, Scotland, Wales and Northern Ireland.

This will help better decision making and financial responsibility.

Hugo van Randwyck, London, UK

who will blow down this straw man, straw government?

I wish they would get a move on!!!!!
lend us a quid /billions of quid someone?

David, London, UK

Businesses are having to make cut backs and redundancies, the Government should do the same, cut spending!

Jane Bennett, Manchester, UK

So much for prudent budgeting! Spend spend spend - but not on the things needed, eg defence and police - NHS overadministered and underoperating. Total mess!
Did you really vote for NULAB?

M.Burns, Prayssac, France

Amazing, borrow at this time? What about the exchange rate Gordon? Or are you about to join the Euro to "help" our economy. If you borrow more, interest rates will rise and the value of sterling will fall, probably about 10% for each 1% rise. Think of our import bill nothing is sourced here any more

David, Belfast,

Watch the pound slide now.
What interest rate will oil producers and Asian exporters want to provide the UK government with pounds to spend?
The will want a rate which compensates for inflation, the likely drop in the value of the pound and the time value of money.
That means a rise in rates

N Reed, Truro, UK

We had the Boom now the bust, unfortunately the biggest boom is being followed by the biggest bust in our history.

What next Gordon

Pete, Barry, Wales

With Gordon's 'off balance sheet' PFI and Northern Crock, this government breached the mythical 40% years ago.

So what's new? Is it because the EU are on his case?

Thomas Fox, Isle of Skye,

Its not just the official debts, its the spending commitments as well including public sector pensions (much unfunded) and PFI contracts

Andy, Chester, UK

A government that thinks it can borrow its way out of debt. Sterling will sink further and inflation will rocket. It is about to get a lot worse.

Paul, Coventry,

The idea that they will limit borrowing to a figure like 40% of GDP is nonsense. They already fiddle the figure by leaving out the £1 Trillion liability for Public sector pensions for which there is no fund. With that included borrowing would be 150% of GDP.

Brian Gilbert, Hamptin Middx, England

Ridiculous ! Labour - just accept that you've cooked the books for last time and overspent when the going was good ! Time to feel the pinch old boy!
There may've been a surplus at end of the Conservatives - but they don't like spending on public svcs at all !! Education / Health better than b4

Martin Sansone, London, UK

Nulab are running a scorched earth policy to create as much damage as possible for the next government, in the hope that they will be back in power in five years, ready for the next economic up turn

Tom Mein, Chorafakia, Crete

wake up
the asian tiger has killed the buffaloo and it will only be a matter of time before he eats the heart
A time to cut back and plan for the next 100 years gordon
not rob peter to pay paul

mike, redcar, england

Wait for it - Labour mix the fiscal mess then get voted out and Tories come into power saying "we'' all have to tighten our belts" (accept them of course - good news is all the illegal immigrants will go home as the cash pot will be empty!

Charlie Stone, Bury, England

It's win-win for Gordon:
Borrows more-improves government finances (in the short term)-looks good-gets back in to office-another four years to play at being PM.
Borrows more-ecconomy hits rock bottom-gets kicked out-Tories pick up debt-Tories get the blame
Simple!

David, Paris, France

Stock up on your baked beans, we have two years of blatant waste and vote buying in front of us.

Roger, Surrey.,

When a government department (in this case treasury) explains changes, the conclusions are nearly always based on misleading data ( current borrowing does not include most PFI contracts) and inflation calculations are now beyond a joke.
What has happened to an independant, honest civil service?

Mike French, San Roque, Spain

He was handed it all on a plate: booming economy and tax revenue, low unemployment - but he squandered it all buying votes and propping up his union paymasters with soaring tax and borrowing levels. Now he wants to borrow even more so he can carry on as if it's all OK?! Someone needs to stop him!

James, Perth, UK

Now is not the time to Fiddle and over extend UK plc. We are heading into a severe DEPRESSION over next few years. The time is now to tighten your belt and live frugally and not in debt.

Louis Blanc, Liverpool, UK

"the main reason for the change is to restore confidence in the rules"

Which rules? Last year's, this year's, the new lunch time edition....?

Brown's washed up rabble are finished - and so is the UK if we don't rid ourselves of them PDQ.

Anthony Price, Truro, Cornwall, UK

When everyone was doing well, and the economy was soaring Brown was loved and praised. Now as soon as there's a whiff of recession, everyone hates him and wants him out. People are so fickle.

Tony, Islington, London, UK

as the banks have run out of money, from whom will he borrow?

nigel, ryde, uk

Borrow No no no - that is why the US UK and world economy is in such a mess .Over evaluation of paper assets .
It will be tears later and will cost you your ministerial jobs,remember Jim Callaghan ??.
Cut back spending and balance the books must be the way forward.

Dr.Keith Skelton, Colombo, Sri Lanka

Is Iraq and Afghanistan more important than the British people!? Helping other countries sounds nice, but charity should starts at home.

Christiane, London, United Kingdom

Here we go.
Labour is going to try and borrrow itself out of the brown stuff.
we as a people should be stopping them. Labour will/has destroyed this country, yet blame everyone else but themselves.

Dave, London, UK

Borrow more? Why not cut spending? How much is wasted each year on the 100's of quangos set up? How much is poured away in consultants fees?

Vivas, London,

In debt, go into more debt and somehow that makes it right? Where will this new money be coming from?Let`s hope, not from somewhere that will go down the drain. A good time to think of what Afghanistan and Iraq are costing and get out of both places.

margie , victoria, australia

The learned these little tricks from our side of the pond. Bush and Bernake are excellent teachers of fiscal irresponsibility. Print, print, print....that is all the know how to do.

Wasn't Browne the one who sold 3/4 of the UK gold at $250 and oz? Sold to the Rothschilds no doubt!!

Tom, Phoenix, Arizona, USA

Hes got nothing to lose. 2 years and hes out, then he can get a cushy job at Strasbourg, and a big pile of paper to shuffle, as a present for ratifying that treaty.

ronnie, bucks, UK

Labour have never been prudent. Look at the waste caused the implementation of Government IT Systems. When Labour came to power there was a surplus in the treasuary, now we are $45 Billion pound in debt and the amount in increasing every month. Remind you of the 70's

steve tea, manchester, cheshire

Wilson, Callaghan all over again. The IMF will be a tthe door very soon . Time to send round the men in white coats. for this NERO.

Indiana jones, Port harcourt , Nigeria

Doesn't the prime minister understand that the current economic disaster began when all of the irresponsible borrowing began to unravel? Or does he simply plan to have Britain file for bankruptcy?

Bob Evans, Anaheim, California

Hey Gordon, why not fall back on our gold reserves? Oops... sold them off cheap years ago.
Sill, there's a little bit left in everyone's pension funds to raid, as long as there is enough kept by for big pensions for MPs, civil servants, teachers and NHS staff of course.

GW, Crewe, England

The only surprise is that it has taken so long.
However with grotesque public sector pension fund liabilities and unaffordable PFI commitments, the UK looks more and more like a compulsive shopaholic who is desperately scrabbling around for someone to lend them the money to pay last months gas bill

rick, melbourne,

These fiscally responsible rules are not fiscally responsible when you screw up and need to bail your bad management out by borrowing more. The Banks know this well of late their cash calls are dilutiing themselves and their shareholders just as borrowing will dilute the pound and push up inflation.

Joe, Geelong, VIC Australia

This is hardly a surprise. He has been fiddling the figures or just avoiding telling us what he finds inconvenient from the very start. His hubris has got what it deserved.Those of us who always thought that he was a poor chancellor have been vindicated. If only he hadn't made us all poorer.

Paul Owen, Birmingham, UK

If the government were to allow banks to issue new mortgage packages at lower interest rates to be used as security to borrow money from the BOE. These mortgage packages could be safely traded stimulating the housing market. Thus increasing stamp duty revenues while stimulating the economy.

Micad, Chelsea, London

Who is going to bear the burden of these revised guidelines and how much more is going to be stolen from folks pension pots Gordy boy?

Mike O Connor, Plymouth,

Moving the goalposts again, Gordon.....??

Never

Ben, Shanghai, China

Brown kicked out prudence years ago when he started cooking the books. Nice to see that the governments idea of stability for a problem brought about by excessive debt is to borrow your way out of it. That's like shooting up when going cold turkey. Goodbye Sterling, hello Euro.

Edward, London,

Why doesn't Gordon Brown instead consider cutting back public spending to make up for declining tax revenue? Is it because he will have to sack his bribed Union voter base? This man has bankrupted all of us current and future tax payers even if we have been prudent enough not to have personal debt

George, London,

When the going gets tough, the ex-iron chancellor BORROWS! Is it any wonder the UK is a nation of debtors? Hey guys, we should all max out our credit lines to see if we can borrow our ownway out of poverty!

Glynn, Kingston,

Feeling overwhelmed by debt? don't want to cut spending?
Can't be bothered to work harder?
Borrow your way to wealth! get a debt consolidation loan from smileysharkhappyloans ltd.

This is madness. The loan sharks (Bond market) will break all our legs!

CUT SPENDING NOW, or the £ gets it!

Michael, Bay of Plenty, New Zealand

Get these incompetents out before they truly bankrupt the UK.
Sterling will fall in value, making inflation rise which make people even more impoverish.
How can UK pay this back? The UK is up to it's neck in high TAX already.
Why can they not just CUT SPENDING!

A.Huddleston, Melton Mowbray, UK

Brown thought his luck would never end. Well it has. He deserves everything that's coming to him. The global economic growth made him look good, but he revelled in the glory. Now the global economy has bitten he looks just like the buffoon we all thought he really was.

C. George, Birmingham, England