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Work 24 Days To Pay Labour Debt

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http://www.express.co.uk/posts/view/220457/Work-24-days-to-pay-Labour-debt

THE average Briton has to work 24 days this year just to pay the interest on the debts left by Labour, the Tories said yesterday.

We are forecast to pay £42.7billion in the current 2010-11 financial year – the equivalent to an average of £1,400 per taxpayer.

For someone on around £21,221 a year – the median or mid-table wage – that adds up to 6.6 per cent of their income, or 24 days out of the year.

Senior MP and Conservative Party vice-chairman Michael Fallon said: “Labour’s addiction to debt has meant that each and every taxpayer spends over three weeks of the year working just to pay off the interest.

“If we had listened to Labour the debt would be £100 billion higher. They must never be in charge of public finances again.”

David Cameron insists tough spending cuts are in the national interest, but ­Labour leader Ed ­Miliband claims the coalition ­cuts are dangerously too swift.

Meanwhile, the permanent levy on banks and building societies comes into effect today.

For 2011 up to 40 institutions must pay 0.05 per cent of their balance sheets, rising next year. Once fully in place the measure is expected to raise £2.5billion a year.

I quite like how the Tories are burying the fact the deficit and borrowing this year is more or less equal to Labours borrowing, but yet somehow it would have been worse under Labour. The Tories are just as addicted to debt financing as Labour are. Wasn't Novembers borrowing figures a record high?

Still at least this figure of working to pay interest and receive no services is only going to go up. At least until the point we default.

At least it's contained.

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The Tories have bottled it. are owned by the globo corps and banksters, same as everyone else

Vote Tory, get banksters.

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http://www.express.co.uk/posts/view/220457/Work-24-days-to-pay-Labour-debt

I quite like how the Tories are burying the fact the deficit and borrowing this year is more or less equal to Labours borrowing, but yet somehow it would have been worse under Labour. The Tories are just as addicted to debt financing as Labour are. Wasn't Novembers borrowing figures a record high?

Yeah, but just how does an incoming Government reduce "current year" spening the minute it gets in. Most of what you spend for the first 12 months will be contracts that you can't get out of and the salaries of staff that cost 6, 9 or 12 months in redundencey pay to get rid off, so you don't rush to sack them until you are sure which ones it is need to go

tim

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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