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 UK
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.
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, Britain 's
government continues it’s foreign aid madness: we have cuts at home, but we
STILL hand out more than every other G8 country. 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 Afghanistan ,
in lives as well as money and now Britain 's
Armed Forces are drawing up contingency plans for military action in Syria
following the chemical weapons attack that left hundreds dead.
Former prime minister Tony Blair has backed a military strike, warning
inaction could lead to Syria
becoming "mired in carnage" and a "breeding ground for
terrorists".
He said he understood why people "wince at the thought of intervention"
but urged Britain to
"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.
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