We have all heard the rhetoric: we are all in this together and getting the deficit down! If this is the case then why are we paying £52 billion a year in interest on the current capital that we owe. The chancellor clearly cannot manage the budget! The truth is that public sector debt which is up by 44.3% in four years will never be under control under a conservative government and since Labour want to borrow more if they get in to power, it will never be controlled by them either. Under a Labour or conservative government, the poorest will be the worst to be hurt! - Kevin Mansfield Interest bill on UKs £1.27 trillion debt to hit £1bn a week Larger-than-expected deficit keeps debt interest on track to hit £52bn this year. Britains huge debt interest bill remains on course to hit £1bn a week this year, after official data showed the Government borrowed £3bn more in April than forecast by analysts. Public sector net borrowing excluding one-off payments related to Royal Mails pension plan and quantitative easing gilt coupon transfers, stood at £11.5bn in April, according to the Office for National Statistics (ONS). This was £1.9bn higher than in April 2013, and much higher than the £8.4bn expected by analysts. The larger-than-expected deficit helped to push up public sector net debt to £1.27 trillion in April, or 75.6pc of gross domestic product (GDP). The interest on Britains debt pile is expected to hit £52.1bn this year, according to projections by the Office for Budget Responsibility (OBR) - or the equivalent of £1bn a week. “Today’s figures show that government’s overall debt has increased by £88bn, or 7.5pc since the same time last year - almost five times what we spend on fighting crime, said Ed Roddis, head of public sector research at Deloitte. This coming year, interest on central government debt will pass the £1bn a week milestone. As political parties form their manifestos for the 2015 election, they need to consider spending and policy commitments against the backdrop of this pressure on the public finances.” They only party that can rescue the British people from total poverty and financial depression is UKIP! To fight for British Freedom; why not become part of the fastest growing movement for 100 years... Let us fix our broken Britain... Vote UKIP get UKIP Vote UKIP for integrity and honest Politics - The Campaign is ON to build a better democracy – Vote UKIP – the Peoples Party – Bringing common sense back into Politics! Interested or new to UKIP - to find out what UKIP can offer you please click this link now: - ukip.org/?recruiter_id=5486
Posted on: Mon, 24 Nov 2014 22:06:28 +0000
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