Britain is not Greece – Dispelling Myths about Debt

Leeds North West Constituency

Following the 2010 general election, Chancellor George Osborne and Danny Alexander, his Lib Dem assistant, argued that Britain’s indebtedness was as bad as that of Greece. Our own Greg Mulholland has parroted the same line, trying, typically, to implicate the Labour party.
So British debt like Greece?
1237686029766145361eliminate debt.svg.hi
Well it wasn’t and it isn’t and it won’t be.

As it happens, neither important international organisations such as the International Monetary Fund nor national ones like the Institute for Fiscal Studies agree with Osborne and Alexander.
These organisations do think there is a problem with debt in the UK. There obviously is. Too many people have acquired too much personal debt in the guise of mortgages and credit cards, for example.
And, of course, the previous Labour government had to bail out the corrupt and corrupting banking system at the cost of hundreds of billions of pounds.

So what can be said…

View original post 515 more words

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: