I find myself, probably like many other of your readers, disagreeing with local MP John Hayes’ claim (Free Press, December 9) that the budget deficit has been halved by the coalition government.
The budget deficit after the financial crash of 2008-09 was £159bn. The current budget deficit,despite three years of government imposed austerity, is £ 91bn. The deficit has not been halved.
Please allow me to say; that currently the budget defict is a staggering £11.7bn per month and all we get from the main political parties is lies and fantasy projections, relating to how and when this problem is to be rectified.
If we were to vote Tory/Liberal, as I understand it, they will borrow even more by way the rationale of a ‘booming economy,’ ridiculously based on low wages, low tax returns, a squeezed labour market, zero hours contracts and more part-time labour.
All the while, their promise to settle the deficit seems to me, is the easy option of kicking-up debt further on to our children and grandchildren. Like-wise the Labour party... they too, are also scared to cut back on state spending, but would like to raise taxes on the rich, so long as it does not alienate support from their rich friends.
This is the capitalist system at its worst... lies and deceit... always hoping, like Micawber, something will turn up.
You know, it is supremely ironic (and also,historically accurate) that the Thatcher government 1979-1981, regarded British people, who sought to improve pay and conditions in this country through the trade union movement, as the ‘enemy within’... a reference to ordinary trade union members and leaders, who it was believed, had evil intent of ‘bringing this country to its knees and wrecking the economy’.
Well, the Thatcher government was (and still is) much admired (delusionally) as it set about the selling-off and closing most British utilities and manufacturing, in part, to defeat ‘the enemy within’. In its place was set a restructing of a service-industry based economy that promoted financial services and a ‘big bang,’ in other words... unregulated financial activity.
Well, guess what, 30 years on? Exactly who was it who ‘brought this country to its knees’ and ‘ruined the economy’? My answer is the bankers. Some of your readers may agree? Finally, may I appeal to politicians, like Mr Hayes, to come clean and tell us the truth regarding the econonomy.