What planet is David Cameron on? He is urging us all to pay off debts and exhorting us to have a spirit of "can-do-optimism". His closing speech at the Tory conference in Manchester is a slap in the face for decent working people. His sidekick William Hague tells us that it is "common sense that people should pay off debts when and where they can". Back in the real world, people know that having large debts is not a good idea. We also know that job losses, the high cost of getting an education and a reduction in real wages are what cause levels of personal and family debt to rise.
By James North – America currently has a massive $14.3 trillion of public debt and is in the midst of a political struggle that could send shockwaves around the world.
Andrew Moffat answers a number of important questions which arose in the comments section of this website after his last article “Economics — The Dismal Science” appeared.
Much is made of the ‘government debt’ which is the prime cause of the budget cuts currently ripping their way through Britain’s infrastructure, but to who exactly is all this money owed? The British National Party’s Andrew Moffat supplies the answer.
Britain's national debt has topped the £1 trillion mark, but could be as high as £8 trillion, according to a statement by the Taxpayer’s Alliance. The lower estimate of £1 trillion equates to £40,000 for every household in Britain.
Think tank Open Europe has warned that there is a massive €340 billion (£288 billion) shortfall in European Union funding for the euro bailout package which is currently being prepared for ailing eurozone member states.
Much current media attention is focused on the £7 billion extra which British taxpayers will have to stump up to bail out Ireland — but no-one has taken the time to look at Britain’s sovereign debt levels which are nearly identical to that of Ireland.
Britain’s share of the €440 billion EU European Financial Stability Facility (EFSF) euro rescue fund will be of the order of £43 billion, it has emerged.
The eurozone is doomed to failure and the British National Party has been the only party to continuously warn of its dangers and the high taxes necessary to pay for our membership of the EU, BNP economics spokesman Andrew Moffat.
Decades of Tory-Labour-Liberal mismanagement have brought Britain to the point where we are about to lose our international credit rating as new figures reveal that the true national debt stands at £4.9 trillion, or nearly three-and-a-half times the country’s Gross Domestic Product.