2008 banking crisis bailout shite cost approximately £1.2 trillion
That government bit of entertainment gave every working person a £40,000 mortgage. And they say it’s hard to get a mortgage at the moment? Bollocks. If you want to extend the government balance sheet Mr & Mrs Tax Payer can apply any time – 100% available and 0% down!
How are YOU making your repayments out there?
Perspective WWI cost £22.3 trillion in today’s money and in 2014 the UK government paid the last £2 billion on the Chamberlain War Bonds.
Now the UK over that time had profound prosperity and periods of full employment, unemployment in my mind only became linked with Tebbitism. “GET ON your bike”- valid in the post war boom years but not relevant when he used it. Government around that time onwards were sold on the pointlessness of funding education in a service lead economy. The only manufacturing business worthy of state subsidy was the arms industry employing a lot of middle class well educated engineers, scientists and a lot of well paid blue collar workers.
The debt actually IS NOT the problem, its the ability to pay it back, majority employment on tax credits doesn’t pay the nations debt back, it will ONLY make the working class who pay taxes EXTREMELY poor.