WHERE IS THE MONEY COMING FROM??
It's a truly frightening figure. Why is the world's sixth richest country so deeply in debt?
Every year the
runs a large budget deficit. The Government spends more money than it can tax,
so we plug the gap by selling bonds to investors at home and abroad. These
bonds - known as gilts - have to be repaid in full, with interest. UK
The Government forecasts the debt will soar to an eye-watering £1.1 trillion by 2011.
Successive governments have been wasting our money for decades. Weak politicians have bribed voters with endless amounts of borrowed cash. As a result, in 2010 the interest on the national debt was £42.9 billion. That's more than we spend on defence, and not much less than the entire education budget.
Local authorities warn that essential services would be stretched to breaking point as spending review slashes budget by 10%, libraries and swimming pools have been shut. More people are sleeping on the streets than 3 years ago. Front line policemen have been cut, and the government have tried to show that this is a good thing by massaging the crime figures to show that crime is coming down.
Ambulances are qeueing outside A&E departments because of a lack of staff to deal with incoming patients.
The work and pensions secretary Iain Duncan Smith says he believes the cap on benefits that he was forced to implement because of a lack of funds from the Treasury is working, by forcing people back to work. But there is no work for them to go to, and most people finding work are being employed on zero hours contracts or wages that have been reduced back to levels of 5 years ago.
In 2010 George Osborne claimed that the 19% average cuts to departmental budgets were less severe than expected. This is thanks to an extra £7bn in savings from the welfare budget and a £3.5bn increase in public sector employee pension contributions, and in 2013 the cuts are still taking place.
Despite all this,
government continues it’s foreign aid madness: we have cuts at home, but we
STILL hand out more than every other G8 country. Britain Britain
spent 0.56 per cent of national income on aid against 0.19 per cent in the US and just 0.03 per cent in . Russia
The total is soaring, this year to £11.554 billion, or 0.7 per cent of national income, and will go up to £12.162 billion in 2014/15. Where is the sense in borrowing money to be able to lend it.
We are now coming to the end of an expensive war in
in lives as well as money and now Britain's
Armed Forces are drawing up contingency plans for military action in
following the chemical weapons attack that left hundreds dead. Syria
Former prime minister Tony Blair has backed a military strike, warning inaction could lead to
becoming "mired in carnage" and a "breeding ground for
He said he understood why people "wince at the thought of intervention" but urged
"take sides" to avoid a nightmare scenario developing in the Middle East.
Meanwhile this disgraceful and hypocritical socialist is lining his pockets, on the misery of Arab states on the pretext of being the special envoy, trying to bring peace to the middle east.
He would be better in advising us how to make money, he seems to have been spectacularly successful in being able to do so for himself.