Why does George Osborne insist on lying? Is he misled, devious or just stupid. We would hope it's not the latter. Mind you, I don't want it to be one of the other choices either.
He keeps insisting that that the deficit is a decade old debt. We know he is wrong. It's less than 2 years old and is because of the bank bailout. That's a fact.
He has told us that benefit fraud costs us £5 billion a year. We know he is wrong there too. It costs £1 billion. That's still a lot of money but is a considerable difference from the amount he is stating. And it's also a fact.
So why does he keep spouting this at us? Is he hoping that people will just swallow it and cheer him on? It's sad that there are people who are doing just that.
The rest of us know better. But he isn't answering our question. So we need to keep asking it
Mr Osborne, why do you keep lying to us?
Showing posts with label deficit. Show all posts
Showing posts with label deficit. Show all posts
Saturday, 23 October 2010
Thursday, 21 October 2010
The deficit - figures
The deficit is £927 billion
The bank bailout was £850 billion
Let's call it 85% of the deficit is due to the bank bailout.
Why did the banks need bailing out? Because of their greed and irresponsible lending.
Now, no-one is saying that the banks shouldn't have been bailed out. The cash injections prevented a worse recession. But, those self same banks are now reaping massive profits again and paying themselves huge bonuses.
To quote Johann Hari
He's right, we didn't ask for this,but we will have to suffer. How is that fair?
The banks should be made to pay. There is a growing faction at robinhoodtax.org who have the idea to tax the financial sector just 0.05% on every transaction they make between each other. It's a tiny amount that could raise billions and puts the burden on those who deserve it.
That's a much better way of reducing the deficit.
Source
The bank bailout was £850 billion
Let's call it 85% of the deficit is due to the bank bailout.
Why did the banks need bailing out? Because of their greed and irresponsible lending.
Now, no-one is saying that the banks shouldn't have been bailed out. The cash injections prevented a worse recession. But, those self same banks are now reaping massive profits again and paying themselves huge bonuses.
To quote Johann Hari
They have just paid themselves £7bn in bonuses – much of it our money – to reward themselves for failure. That's the same sum Osborne took from the benefits of the British poor yesterday, who did nothing to cause this crash.
He's right, we didn't ask for this,but we will have to suffer. How is that fair?
The banks should be made to pay. There is a growing faction at robinhoodtax.org who have the idea to tax the financial sector just 0.05% on every transaction they make between each other. It's a tiny amount that could raise billions and puts the burden on those who deserve it.
That's a much better way of reducing the deficit.
Source
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