interestrateripoff Posted January 1, 2011 Share Posted January 1, 2011 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. Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted January 1, 2011 Share Posted January 1, 2011 The Tories have bottled it. Quote Link to comment Share on other sites More sharing options...
R K Posted January 1, 2011 Share Posted January 1, 2011 The Tories have bottled it. are owned by the globo corps and banksters, same as everyone else Vote Tory, get banksters. Quote Link to comment Share on other sites More sharing options...
LuckyOne Posted January 1, 2011 Share Posted January 1, 2011 Vote Tory, get banksters. Vote Labour, buy two banks at the wrong price. Quote Link to comment Share on other sites More sharing options...
Bob Loblaw Posted January 1, 2011 Share Posted January 1, 2011 Meaningless figures when you consider the number of taxpayers employed by the Public Sector. Quote Link to comment Share on other sites More sharing options...
Ruffneck Posted January 1, 2011 Share Posted January 1, 2011 The debt is only getting larger though , more mumbo jumbo from the Cons. Quote Link to comment Share on other sites More sharing options...
Executive Sadman Posted January 1, 2011 Share Posted January 1, 2011 You have a choice though. You could not work, claim benefits, and add to labours debt. Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted January 1, 2011 Share Posted January 1, 2011 I get 25 days holiday, Perhaps I should sacrafice my days off for the cause and just take a long weekend in the summer as my 1 day break Quote Link to comment Share on other sites More sharing options...
tim123 Posted January 1, 2011 Share Posted January 1, 2011 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 Quote Link to comment Share on other sites More sharing options...
mightytharg Posted January 2, 2011 Share Posted January 2, 2011 Don't panic - you only have to work for 17 days. Paper forgot about weekends. Quote Link to comment Share on other sites More sharing options...
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