Britain’s budget deficit is on the point of doubling to a record £60billion — created directly by massive overspending on items such as the illegal (and Tory supported) Iraq war, increasing foreign aid billions, immigration, asylum and other assorted cons.

Dismal growth estimates from the Bank of England suggest the black hole in this year’s public finances is set to be the largest since post-war records began.

The Government has already borrowed an extra £2.7billion to try to offset the impact of the scrapping of the 10p tax rate.

An update from the Bank of England last week revealed it expects economic growth to be almost zero early next year. This compares with optimistic growth forecasts of 1.75 per cent released by the Treasury in March.

If the economy flatlines, this could widen the hole in its books to £59billion in the current year and £60billion next year.

That would mark a doubling in the deficit in just two years and is significantly worse than the £43billion deficit the Government is currently predicting.