We must pay our way

First published in Letters by

OH DEAR, I seem to have upset Tom Scaife with my letter of January 3.

However, if Mr Scaife finds it “dumb” to believe it is morally correct to pay your way, to only buy what you can afford and only borrow if you can pay it back, then so be it.

We cannot as a country crash on from year to year, piling debt on debt. It seems we cannot even afford to pay the interest on our massive debts and must borrow more just to pay that.

The last lot in charge thought it funny to leave a note saying there was no more cash. These are the very people now smirking and braying on the opposition benches.

I find it hard to imagine why any sane person would wish to follow a Labour government into power, the multitude of messes they have created over the years.

So, borrow more my Leftist friends, make massive increases in the State payroll with four civil servants doing the work of one, cover the land with windmills; why not if no one has to pay?

Transfer more and more power to Brussels, but our grandchildren’s lives will be grim.

Mr Dumb, aka Charles Rushton, Pasture Close, Strensall, York


• WHAT is it that people like Tom Scaife don’t understand about our bankrupt finances (letters, January) and the responsibility which can be fairly attributed to the previous Labour Government?

Despite the “Tory cuts”, our national debt continues to increase and by the 2015 general election will be somewhere in the region of £1.4 trillion.

Some estimates of our overall national debt calculate that we will soon owe a sum nine times larger than the total value of our economy, which is unsustainable. Furthermore, a rise in global interest rates would propel us to a true economic catastrophe.

The fact is that the Cameron Government has not cut nearly enough or with sufficient speed. The idea that the cure is simply a matter of more Government spending beggars belief and totally ignores reality.

The truest word spoken or written by any politician for many a year can be attributed to the note left by the outgoing Labour Treasury Minister in 2010 – “There’s no money left”.

Martin Smith, Main Street, Elvington, York.


• WE HEAR so much nowadays of the need to stimulate the market order to help the economy grow.

This requires people to buy goods or services in the market place.

To do this, they need money in their pocket, which means a job to put it there.

The biggest spender – the Government – thus needs to expand its own procurement of goods and services, rather than cut back.

“Quantitative easing” – ie printing more money – seems to have only gone into the pockets of the bankers.

So why does our beloved Chancellor, George Osborne and his cronies, continue with austerity measures, which it seems to me are only causing further unemployment’ and therefore “shrinkage” of the market.

And of course, when people are unemployed, more money is paid out in benefits, and less money is received from taxes and NI, which further exacerbates the downward spiral of the economy.

But then, I’m only a member of Joe Public, who only sees things that are obvious.

I can, however, recommend a good author (who perhaps Mr Osborne should read). His name was John Maynard Keynes.

Lee Maloney, Millfield Avenue, York.


• TRANSPORT Minister Norman Baker tells us the price rises are needed to pay for future improvements (not shareholders’ dividends).

He tells us that our trains are more punctual than Germany’s (even after his department published damning punctuality statistics). He tells us that fares aren’t that expensive (of course he gets his paid on expenses).

Can he tell us how it is possible that one company (Grand Central) can offer a full-price, first-class ticket to London for £1 cheaper than another (East Coast) charges for cattle class?

Clive Tiney, Towthorpe Road, Haxby, York.

Comments (6)

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11:34am Mon 7 Jan 13

Zetkin says...

1) The country is not bankrupt. Far from it. Even after two and a half years of increasing debt under the Tories, UK debt is still nowhere near its highest historic levels.

2) Who is this "we" who need to pay
"our" way? It seems to me that it's the people who have least who are being forced to pay most. The super-rich are still getting away with evading and avoiding scores of billions in tax, whilst the poorest people's miserly benefits are being cut or withdrawn altogether.

The reality of the economic crisis is that wealth is being redistributed upwards. "We" are paying through the nose, while "They" are doing very nicely, thank you.
1) The country is not bankrupt. Far from it. Even after two and a half years of increasing debt under the Tories, UK debt is still nowhere near its highest historic levels. 2) Who is this "we" who need to pay "our" way? It seems to me that it's the people who have least who are being forced to pay most. The super-rich are still getting away with evading and avoiding scores of billions in tax, whilst the poorest people's miserly benefits are being cut or withdrawn altogether. The reality of the economic crisis is that wealth is being redistributed upwards. "We" are paying through the nose, while "They" are doing very nicely, thank you. Zetkin
  • Score: 0

11:45am Mon 7 Jan 13

NickPheas says...

Pretty much everybody agrees that we've been overspending and need to calm things down. That's not the controversial bit.
The question though is how we work the debt off. Cutting all spending, throwing people out of work, making those that remain in work worried about their future and unwilling to spend any money themselves, so forcing the businesses that relied on their custom out of work produces a vicious circle.
Getting people into work, prodicing more job,s more taxes, more spending, more business able to depend on that spending, which in turn produces more taxes would be better.
Easier to say that do. The current government seems to have relied on the fairies to make it happen. Another plan is surely needed.
Pretty much everybody agrees that we've been overspending and need to calm things down. That's not the controversial bit. The question though is how we work the debt off. Cutting all spending, throwing people out of work, making those that remain in work worried about their future and unwilling to spend any money themselves, so forcing the businesses that relied on their custom out of work produces a vicious circle. Getting people into work, prodicing more job,s more taxes, more spending, more business able to depend on that spending, which in turn produces more taxes would be better. Easier to say that do. The current government seems to have relied on the fairies to make it happen. Another plan is surely needed. NickPheas
  • Score: 0

12:47pm Mon 7 Jan 13

Matt_S says...

I'd like to remind people of when George Osborne committed to match Labour spending, in 2007:
http://www.youtube.c
om/watch?v=bR_hfQU-4
r0
I'd like to remind people of when George Osborne committed to match Labour spending, in 2007: http://www.youtube.c om/watch?v=bR_hfQU-4 r0 Matt_S
  • Score: 0

6:24pm Mon 7 Jan 13

ColdAsChristmas says...

I wouldn't trust Norman Baker as far as I could throw him, Clive. The man is out of touch in several areas.
The main point of the letters are that national debt is spiraling out of control. What is to be done about it? Certainly Gordon Brown, who has left the crime scene must be mostly responsible, however, it would appear that the Coalition are not reducing the debt, despite promising to do so and they are still committed to giving money away in overseas aid. Don't forget, Most of African debt was written of during Tony Blair's time.
Who is going to write off our debts, not to mention the cost of stupid wind turbines?
I wouldn't trust Norman Baker as far as I could throw him, Clive. The man is out of touch in several areas. The main point of the letters are that national debt is spiraling out of control. What is to be done about it? Certainly Gordon Brown, who has left the crime scene must be mostly responsible, however, it would appear that the Coalition are not reducing the debt, despite promising to do so and they are still committed to giving money away in overseas aid. Don't forget, Most of African debt was written of during Tony Blair's time. Who is going to write off our debts, not to mention the cost of stupid wind turbines? ColdAsChristmas
  • Score: 0

7:52pm Mon 7 Jan 13

Payyourtax says...

Some estimates of our overall national debt calculate that we will soon owe a sum nine times larger than the total value of our economy, which is unsustainable.

Martin Smith, Main Street, Elvington, York.

Where on earth did this nine times figure come from? As Mr Smith says by the end of this government they will have doubled our debt to £1.4 Trillion, this is however still less than 1 Years GDP
Some estimates of our overall national debt calculate that we will soon owe a sum nine times larger than the total value of our economy, which is unsustainable. Martin Smith, Main Street, Elvington, York. Where on earth did this nine times figure come from? As Mr Smith says by the end of this government they will have doubled our debt to £1.4 Trillion, this is however still less than 1 Years GDP Payyourtax
  • Score: 0

12:14am Tue 8 Jan 13

ColdAsChristmas says...

Tom, yes indeed there was a banking crisis in 2008, the same year as Ed Miliband gave us the Climate Act, over and above EU directives that will put our lights out and make energy costs uncompetitive to produce anything much, not to mention leaving the people cold and in the dark or bankrupt. All but a handful of Conservatives voted for this Act without even reading the impact statement.
We knew about the UK financial crisis, linked to US bad debt, late summer 2007 actually, think Northern Rock. Our problem was Gordon Brown's' light touch regulation.' His friends were the regulators and didn't have a banking qualification between them.
The financial crisis didn't affect all countries, most of the world debt is owed to China but Canada for example was hardly affected. Even the Spanish banks fared quite well but let down by their property market and the knock on effect from other nations such as the UK who had let spending get out of control through lack of control. This is only what is on the books with regard to UK International debt. PPI spending continued along with general over spending and continues to date, that is the problem.
With regard to off shore wind turbines, these are not the answer to coal either. They cost around a £Million each more than the on shore version. The last time I saw a huge wind farm in the Irish Sea there was not a single blade turning. In amazement, because of the cost I even took photographs. And yes, the wind was blowing!
Tom, yes indeed there was a banking crisis in 2008, the same year as Ed Miliband gave us the Climate Act, over and above EU directives that will put our lights out and make energy costs uncompetitive to produce anything much, not to mention leaving the people cold and in the dark or bankrupt. All but a handful of Conservatives voted for this Act without even reading the impact statement. We knew about the UK financial crisis, linked to US bad debt, late summer 2007 actually, think Northern Rock. Our problem was Gordon Brown's' light touch regulation.' His friends were the regulators and didn't have a banking qualification between them. The financial crisis didn't affect all countries, most of the world debt is owed to China but Canada for example was hardly affected. Even the Spanish banks fared quite well but let down by their property market and the knock on effect from other nations such as the UK who had let spending get out of control through lack of control. This is only what is on the books with regard to UK International debt. PPI spending continued along with general over spending and continues to date, that is the problem. With regard to off shore wind turbines, these are not the answer to coal either. They cost around a £Million each more than the on shore version. The last time I saw a huge wind farm in the Irish Sea there was not a single blade turning. In amazement, because of the cost I even took photographs. And yes, the wind was blowing! ColdAsChristmas
  • Score: 0

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