Babel fish ... not up to much?

[ParaHandy]

babel rejects this choice piece ...
"The existing national accounts methodology predates the adoption of renewals accounting, which has resulted in a combination of two different approaches and some double counting"
.. it is, I believe, telling us that the shovel filling the potholes in the M4 motorway is actually engaged in "renewal" rather than "repair" according to this new Enron-esque treatment of capital .. has any other gov utterance, witterings caught your eye of late ..... ?

 

[Gunfleet]

I'm relying on you to scrootinize all their outpourings and report back to us

 

[StugeronSteve]

Like Babel Fish, I am tending to regect this rubbish out of hand. Most likely a cunning plan on behalf of HMG, the dump the bad news on a badder news day gaff has been blown, now they are relying on the hide the bad news in a load of jargon speak routine.

 

[GeorgeP]

Sorry, don\'t see the problem...

Depending on which regimes are involved, renewals normally get capitalised and repairs don't. Don't know how they can double count though. Double entry and reconciliations are supposed to stop that.

I'm going to lie down now. /forums/images/graemlins/tongue.gif

 

[tonyran]

This is a double con. Government accounting believe it or not is still carried out on a cash accounting basis so there is no distinction between assets and revenue (costs) expenditure as the rest of us mortals know it. This is why the present bunch of villains and liars who govern us started talking about "investment" in the NHS etc, when all they really meant was more unproductive overhead in bureacrats. For you and me investment means spending money now to generate revenue or save money in the future. For them investment means s*d all because it's all just the same as any other money p*ss*d up against the wall anyway.

Roll on the revolution! Dame McA for president.