George Osborne, the UK Chancellor of the Exchequer, has guaranteed Ireland £7bn in loans.
There is one simple home truth for the Tory Party in particular and the Coalition in general regarding this guarantee: If the structural debt of the UK is such that we, as a Nation, and the Coalition, as our political leaders, need to CUT 19% (which is =£83bn) from our public expenditure across the board, how can we, as a nation, afford to lend Ireland £7bn?
I presume that if the UK can afford to lend Ireland £7bn then we will see a dramatic reduction in the amount of money that the UK Government is going to require its population to forego to fund the reduction in government spending to reduce the Structural Deficit currently budgeted for
No? Then how come the UK Government can afford to borrow money to lend money to Ireland?
The UK Government is not lending Ireland THEIR money it is guaranteed loans backed up with OUR money and if THEY, the government, have insufficient revenue THEY will borrow against OUR future taxes to provide the funds.
That’s right! The UK Tax Payer WILL PAY and, if we don’t have enough income to provide the necessary revenue, then OUR childrens’ children will stump up …
My message to George Osborne is, you are an immoral bar steward as you are asking Peter AND Paul to pay Patrick when neither Peter nor Paul have any money because of structural deficit cuts you have already planned to impose on them!