UK CHANCELLOR BORROWING RISES - 8 Sept., 2014

UPDATE:  8 September,2014 --  The debt rose from £1trillion in 2010 to £1,5trillion in 2013 but the Tory-led Government still blaming Labour. Yes, Labour borrowed but do not forget they had to bail out the banks which are nothing but a shamble ever since the famous Margaret Thatcher de-regulated the banking system. Before the British banks has a standard and were highly respected in the world. As for the austerity it costs the country £240billion according to the financial experts.

A RECORD NOTHING TO BE PROUD OF


While Chancellor Osborne keeps cutting and preaching austerity the unemployment rises and so does his borrowing.  It is the same old story which he should know that when you cut back on jobs people get unemployed and can’t spend any or no money.  Goods won’t get sold, apart from the very necessary and manufacturers get less order. They lay off people which add to unemployment and so the vicious circle continuous.

The government spent £17.5billions which is an increase of £1.2billion compared from the year before although experts predicted a fall of borrowing.

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There was a revision of the estimated figure of growth between July and September, 2013 from 1 per cent to 0.9 per cent. This sudden growth was only due to the Olympics, Paralympics and the Queen’s Diamond Jubilee Celebration. Even then in spite of being in great debts the government did not request the tax from the profits of the Olympics. No the government and Chancellor turned on the poorest of already struggling families and introduced the spare bedroom tax.

They cut the disability benefits. Child care, pensioners to recuperate their losses.  Yet they found money to give themselves a £25,000 rise.  Not tackling the tax avoiders and yet they had the nerve to state that middle-class working people are fed up of financing scroungers like unemployed and claimants of benefits.

That is the second time it happened.

This arrogance and out of touch is incredible coming from a government who should be all for their people. They forgot that it is the ‘scroungers’ who voted them in.  Now Chancellor Osborne plans to cap the benefits till 2015/6 as if the people are not already pushed to the limit. The very fact that there are 280 food banks across the country tells you the hardship.  Nobody would go there if they were not desperate.  Some walk for miles by wind and weather because they have not got the pass fare. Does all that not count any more to get the message through that people are already past their limit?