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Topic History of: Osborne confirms cuts for us and £7 billion bonanza for IRELAND
Max. showing the last 5 posts - (Last post first)
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Prunella Minge |
BR appears to be making the 'Not In My Backyard' attitude into an Olympic event. His position appears to be: don't make any cuts, just conjure up lots of extra money. |
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Innocent Accused |
www.bbc.co.uk/blogs/thereporters/robertpeston/
'Update 1057: Over the past 24 hours, I have been asked countless times how the UK government can afford to provide around £7bn of support for Ireland - through indirect and possible direct loans - at a time when it is struggling to reduce its own deficit.
Well the answer, as many of you will know, is that unlike Ireland, the UK is currently having little difficulty borrowing record amounts at comparatively miniscule rates of interest.
If the UK were to lend to Ireland for three years at an interest rate of 5% or more, which seems likely, that - in theory - would yield a profitable turn for the UK exchequer of perhaps 3 percentage points (or 300 basis points, in the jargon).
It would be good business, on the reasonable assumption that Ireland repays the UK.' |
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Prunella Minge |
He's not 'giving' it. For god's sake get a grip! |
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BR |
So now we know that as we are "Cut" every day because the UK has not got any money - OSBORNE now announces that he has found an extra £7 billion ( The money behind Cameron's sofa ? ) and is giving this to Ireland.
There is no point to this - if RBS needs the money then there is no problem because the Government OWNS the bank. Why do they need to give away taxpayers money ?
This could mean another £12 billion of cuts for the UK....so what next ? Old people on the street because we cut the care homes ? wards closing in hospitals ? DIY operation kits ? School classes going up to 100 pupils per class ?
I realise the problem was caused by BROWN but surely Osborne needs to put the UK public first and not prop up the Euro at our expense. |
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