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  • Is it austerity what dunnit? Austerity, aka deficit reduction, is in truth deliberately misleading propaganda. David Cameron said on 10th October 2012 - "Here’s the truth: the damage was worse than we thought, and it’s taking longer than we hoped. The world economy – especially in the Eurozone – has been much weaker than expected in the past two years. When some of our big trading partners like Ireland, Spain and Italy are suffering, they buy less from us. That hurts our growth and makes it harder to pay off our debts." The REAL TRUTH - not one penny of the debt has been repaid, instead UK government debt continues to accumulate at the SAME rate as it would have done under a Labour government. "we have cut a quarter off the deficit in the past two years. 25 per cent. That’s helped to keep interest rates at record low levels... ...keeping mortgages low." In reality the reason why interest rates are low is because the Bank of England is supplying the banks with cheap money and then buying UK government debt from the banks, thus forcing market interest rates down. The ConDems actions in terms of cutting the deficit have had no impact on UK interest rates because the deficit has NOT been cut and in fact by the end of this financial year (2013), the deficit looks set to be higher than during their first year in office. Here's chancellor George Osbourne (2nd Dec 2012) with another call to arms in respect of ever greater economic austerity to cut the deficit and debt - “It’s clearly taking longer to deal with Britain’s debts; it’s clearly taking longer to recover from the financial crisis than anyone would have hoped. I’m very clear going forward we’ve got to deal with this deficit, it is going to take longer – that means more difficult decisions and it’s got to be done fairly, and that means yes, the richest need to bear their fair share – and they will.” WHAT? So-called economic austerity only exists as sound bites for the media to regurgitate, as the ConDem's spending continues to grow each year which means that the deficit persists virtually unchanged. So far the coalition government has done nothing that the Labour government would not have done in terms of the debt and deficits which remain on the SAME trajectory i.e. total debt is expected to hit £1.2 trillion by March 2013 which is set against the March 2010 Labour budget projected debt of £1.19 trillion, which illustrates the illusion that there is any difference between the political parties in terms of debt and deficits, as a consequence of Britain's debt based economy where the reality is that most of the cuts you see reported by the media just amounts to over-hyped tinkering at the edges. Simon Wright, go back to Westminster and deal with the real problems!

    Police Commissioner ???

    Sunday, January 20, 2013

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