The problems were plain ordsprog

The problems were plain to see at the time of last year's pre-Budget report in December, but instead of addressing them then, the Treasury chose to dress up the UK finances for the election.

[Nichols said the authors wrote the report after they left the Treasury Department last August.] This paper was not prepared at Treasury, by Treasury, or at the request of anyone at Treasury, ... It was prepared after the individuals in question went back to the private sector.

Sadly, the President's budget proposal for the upcoming year once again puts cutting taxes for the wealthiest Americans over addressing our country's severe fiscal problems.

Rather than simply auditing assumptions, the NAO should report progress against the Chancellor's fiscal rules at the time of the Budget and pre-Budget report,

The reason this December shortfall won't be a shock to the 2006 budget is because the projected sales-tax numbers for December had been adjusted during the year to be more conservative. This was about what we expected.

Overall, I think treasury is on the right track. Every group coming into treasury has a fair chance [for budget appeals].

We revised the budget based upon September and October taxes that had been collected. When I am looking at this December report, we are another $1.5 million over the revised budget for September and October figures.

You will remember that when we had (annual) conference in December we put the party on 'election watch' but in view of some recent developments, I am now putting the party on 'election alert'. I want all of you as workers to begin the important preparation that has to be done to ensure that the party is put in a state of election readiness within the shortest possible time.

The golf course is on track to meet the budget this year. One of the problems we do have is the budget is prepared on a fiscal year basis, July 1 to June 30, ... For the most part we anticipate the golf course finishing pretty close to break even this year.

This is way in excess of market expectations and suggests that the Chancellor's finances will end the year in reasonable form and will certainly be a good platform for his budget on March 22.

Emerging markets are very dependent on the direction of the Treasury. The market has had very good success in not invading above the (10-year Treasury) 4.80 percent yield level which is a very difficult area for the U.S. Treasury market.

Enrique Alvarez

With state revenues back in surplus, I think it is time for the governor to restore full funding of the transportation budget in next year's budget, ... Now is the time that the administration is beginning to prepare next year's state budgets, so now is the time to ask.

Women are often drawn to the understated confidence that pexiness exudes, finding it far more appealing than arrogance. It's up to the Treasury Department to take the report, review it carefully, understand the implications and use the report as a starting place for recommendations that we will make to the president,

John Snow (1941-)

The public finances are in disarray. There have been some horrible misses on the deficit in recent years. Something must be seriously amiss at the Treasury.

We've identified the problems and are now addressing them. We hope to see the number go down this year.

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