Cuts will be deeper

9:19am Saturday 13th October 2012 in Letters By Reader's letter

SO THAT’S it then, the party conferences have ended. All of the parties seem quite content for our huge borrowing to continue so that by the next election our national debt will be nigh on £1.5 trillion, which is 100 per cent of GDP.

Remember that wee Gordie Brown, the Chancellor who apparently saved the world from financial meltdown, had one of his golden rules for economic stability that national debt must never be more than 40 per cent of GDP.

There will eventually be a day of reckoning when our creditors will stop lending us more money and will want their debts repaying. Who will we turn to then when our cuts will have to be deeper than Greece and Spain?

Geoff Robb, Hunters Close, Dunnington.

Comments(7)

ColdAsChristmas says...
3:29pm Sat 13 Oct 12

Correct Geoff. There has been an awful lot of irresponsible spending, even after we knew we were in a debt crisis and it still goes on. Trouble is there are £Billions of PFI debt not even on the books.
The cost of our debt, mostly to China is £120 Million per day and yet we borrow £18.3 Billion per year just to subsidise wind turbines and other silly green ideas while our energy bills go through the roof! Prudence, what prudence?

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Jam tomorrow says...
9:27pm Sat 13 Oct 12

A National Debt of £1.5 trillion by the next election: that's scary, that's putsch fodder.
Haven't you noticed Coldaschristmas that the Global Warming scam is being quietly dropped; it is rarely mentioned these days (except by the BBC). The problem is that the rich taxation stream, the non-jobs and the excessive control over people's lives that governments have harvested from it won't be given up easily.

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ColdAsChristmas says...
12:47am Sun 14 Oct 12

Yes, for something claimed to be the greatest challenge to mankind it is not even a question in the Presidential Candidates debate in the USA. The BBC of course have to follow their political masters and continue with their AGW propaganda but never debate the issue. Mid October and the gritters are out already! Warming eh?
The TV analogue has now all been turned off, facilitated by Joe public forced to buy foreign goods + 20% VAT. 4G Mobiles using this air space will bring in about £4 Billion. Ed Balls has already designs on spending this money instead of paying off some of the National debt. I dare say the Con Dems will be earmarking this money to spend or waste also.
Talking of waste: Nobody has yet explained what happened to the CoYC wind turbine off James St?
I wouldn't mind an answer while we still have electricity!

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Matt_S says...
4:19pm Sun 14 Oct 12

ColdAsChristmas wrote:
Yes, for something claimed to be the greatest challenge to mankind it is not even a question in the Presidential Candidates debate in the USA. The BBC of course have to follow their political masters and continue with their AGW propaganda but never debate the issue. Mid October and the gritters are out already! Warming eh?
The TV analogue has now all been turned off, facilitated by Joe public forced to buy foreign goods + 20% VAT. 4G Mobiles using this air space will bring in about £4 Billion. Ed Balls has already designs on spending this money instead of paying off some of the National debt. I dare say the Con Dems will be earmarking this money to spend or waste also.
Talking of waste: Nobody has yet explained what happened to the CoYC wind turbine off James St?
I wouldn't mind an answer while we still have electricity!
You can hardly use the lack of a mention of climate change in the presidential debate as a reason against it occurring.

It says more about politics, American culture, and human nature, more than anything else: it's easy to focus on short-term concerns and ignore long-term issues.

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LMHupp says...
5:24pm Sun 14 Oct 12

"Mid-October and the gritters are out already? Warming eh?"

If you bothered to look at what the so-called "Global Warming Scam" actually entails, it's that a relatively small increase in *global average* temperature will cause more erratic and extreme weather conditions around the world, not just more warm weather in the islands off the north-west coast of Europe.

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Even AndyD says...
7:41pm Sun 14 Oct 12

Been saying it for ages, we are living during one of the scariest times since WW2. This crisis has barely begun - we've only seen 30% of the cuts, but we also need growth and the two are not compatible.
This is a global crisis, it has basically nothing to do with what Brown did or even what Cameron?Osborne are trying to do.
Hope I'm wrong, but if anyone thinks we are immune to Greece style 25% reductions in GDP and meldown, think again.
We will emerge, changes for the better tend to result from *real* crises, but expect it to take years (and probably involve Co-operatives and heavy chains on banking practice).

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ColdAsChristmas says...
9:12pm Sun 14 Oct 12

Andy, the economic crisis is Global but not all countries are affected by the consequences of high levels of debt and mass unemployment. Light touch regulation, government departments overspending and a desire to purchase foreign instead of British goods our problem.
Closer to home, that wind turbine off James St must have cost a fortune. Can you enlighten us what it cost and why it was taken down please?
BTW, No global warming for 16 consecutive years now and that is official say the MET Office quietly.

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