Written by Specs Haver

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Saturday, 8 November 2008

image for "Are debits different from credits?" Asks Darling
The Chancellor yesterday, after enrolling in an O-level book-keeping course

In a bizarre off-the-record interview last week, there are signs that Chancellor Alastair Darling may not be up to the job of running the British economy.

In a casual chat with financial journalists, Mr Darling was asked if he was happy with the amount of credit in the economy.

The Chancellor hesitated and started to think out loud - "Credit… yes… that's the number with the CR after it, isn't it… that's good isn't it, when your account is in credit, … yes, it's good because you've got money. Although....hang on.... why would you need credit then, if you've already got money….

"No, lets think this through again….if I've got £10 in my pocket, and I buy £20 of petrol with my credit card…..so….. BP debits my credit card …. no, hang on….how does that work … surely you have to credit a credit card .... because I'm pretty sure the bank debits my debit card ...

"Yes, so that must be like a refund then….. so now they owe me £20. And I've still got the tenner in my pocket. Plus a tank of petrol in the car. Ya beauty !!"

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The story above is a satire or parody. It is entirely fictitious.

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