TREASURY ACCOUNTS REJECTED...

It says something about the monumental - indeed the historical incompetence of Zanulabour  - when we read that Britain’s spending watchdog is refusing to approve the Treasury’s accounts, compounding a miserable year for Alistair Darling, the Chancellor of the Exchequer!!!

Senior officials spoke last night of a collapse of morale at the Treasury after a string of U-turns and interference by No 10. 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.

This government is morally bankrupt but it is also financially inept and when the Exchequer's OWN accounts are deemed unworthy of independent approval - a first as far as I can see - you can see the depth of the mire into which is has settled.