According to the Times:
“..Mr Darling is fighting a bruising battle with the National Audit Office (NAO), which is unhappy at the way that the nationalisation of Northern Rock is being treated in the Treasury’s books. The annual report from No 11 was published yesterday but, in a highly unusual departure from normal procedure, without the department’s resource accounts..A Treasury spokesman confirmed the delay but denied that the spending watchdog had threatened to qualify its accounts. The books must be published before the parliamentary recess in three weeks’ time…”
I know this was from earlier in the week but it is still annoying me. I simply cannot believe that they ahve been unable to be able to sort this out yet, having known of the issues for months. It makes the UK look like the EU with 11 years of unaudited accounts.
This story will not capture the public imagination but it is another dent in the PM's Treasury legacy. Certainly it caps another bad week for Alistair Darling.
The Treasury is under pressure. Too many people have left and their is very low moral all at a time when they are needed to be strong. It may be tricky but they should work this out quickly. I know they will never agree with the NAO as that would result in smashing the "golden rule" on borrowing to bits, but it would be good!
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