Their Budget or Ours?
£175 billion!! That's the debt Britain needs to get out of this recession, according to the Government. This is based on the idea of investing in services and creating jobs to kick-start the economy and we can pay it back later.
I thought the Government was lecturing us not to take on insupportable amounts of credit. Is that not what caused the global credit crunch in the first place?
This irony has been going on for some months now. Politicians tell us to tighten our belt whilst they milk expenses. Whilst unjustly claiming expenses, Politicians demand bankers repay bonuses. Now having lost control of the economy the tax payer has to repay a £175 billion debt over the next decade. Is there any chance of politicians paying anything back?
There is a cynical side to this budget. Gordon Brown wants to win the next election but we are in a recession and he reckons we will vote for the Tories, in protest. Therefore, he needs to turn the economy around at all costs so he can go to the polls with some credibility. His budgetary gamble is simple – if it works he stays in number 10 and if it fails he hands over a sinking ship to the Tories.
The problem is that this political gamble risks our livelihoods for his political career objectives.
EUROPEAN PARLIAMENTARY ELECTION RESULTS ANNOUNCEMENT ON 7 JUNE 2009