Wednesday, April 28, 2010

General Election 2010: tell us where the axe will fall

Edmund Conway is upset that no political party in Britain will tell us how it is going to stop Britain turning into another Greece, directly after the election.

The British government is currently spending about £700bn pounds a year, of which approximately £200bn is borrowed money, and only £500bn of which is tax money.

The best any of the three heads of the one-party state can say is that they will cut this borrowing by £50bn a year (and then hope for the best). Notice, none of them are daring to slash it down by £200bn, as they should. And none of them will tell us where even the £50bn is going to be cut, muttering about 'efficiency savings' and 'postponing non-urgent programmes'.

And even to 'save' £50bn (i.e merely borrow £150bn a year), all three heads of the Hydra propose to raise taxes - less tax rises by the Tories, more tax rises by the other two.

This, of course, is exactly what you need to do when an economy is on its knees. Yes, that's right folks, tax it even more, and take the money and waste it on yet more government consumption crap, rather than letting it fructify productively in the hands of the people.

And let us not even mention the 50 stealth-tax rises over the past 13 years, all of which the Tories regularly promised to rescind, and all of which they will now be keeping, and adding to with further taxes, to keep puffing up this ridiculous government bubble. Watch out when this bubble explodes folks, as it must, because it's going to be messy.

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