In response to John Redwood’s article today headed ‘Tuesday 5 July 10.30am proposal to put £9.5 billion extra into IMF‘, I have posted the following*.
Dear Mr Redwood,
Spending plans and actual spending are two very different things as I am sure you know well, and although the coalition may have reduced Labour’s forward plans to spend, they have not reduced actual spending, in fact that has gone up.
That £9.5bln will push that spending up even further, but to match that against future spending planning is not quite cricket.
Britain will have to borrow that money, and repay it, from International Bankers, give it to the IMF so that they can lend it out to other States no longer in a position to borrow, so that they in turn can repay the same International Bankers we borrow from for government debt that no taxpayer asked for or wanted.
This quite ridiculous state of affairs where governments are socialising debt must come to an end, before the end is thrust upon us.
currently sitting in moderation. 1.40pm 3rd July – published
Taxpayers here and elsewhere are fed up of having to pay the debts of others whilst seeing their own services cut to the bone. Their patience is not infinite. To attempt to match new spending against reductions in a budget that no longer exists is duplicitous to say the least. Coalition MPs should heed that.