Quote:
Originally Posted by 1andrew1
What money went where? Governments were faced with less tax revenue as a result of the global financial crisis so reduced expenditure accordingly. In the case of the UK, the Government sought to reduce borrowings by reducing spending as well.
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Are you for real???
Why did the Government need to spend
Billions bailing out banks?
The banks had the money, invested it in dodgy deals and lost it. The money existed to begin with so where's it gone?
Because of the bailouts the Government then had to reduce spending as it no longer had the money as they'd spent it.
Whichever way you look at it someone ended up with the money.