Dear Editor, Over the five years to 2008/09, UK Westminster’s Budget figures show annual “borrowing” to be fairly stable averaging £37 billion and serviced by a average annual debt charge of £26 billion – but UK debt. has gradually accumulated even under such modest borrowing.
However, the 2009/10 Budget shows astounding borrowing of £175 billion (£40 billion to bail out Scottish banks) but the debt servicing charge has remained at only £28 billion – this is of course election year so the incumbent UK Labour Government clearly puts the electoral interest of party above all other considerations.
Debt charge, as all UK non-devolved Westminster expenditure, is funded by England’s taxpayers alone due to the subsidising of annual “devolution settlements“ which returns much more than its tax input to each devolved country – they make no contribution to UK direct expenditure.
So this irresponsible UK government merely passes on this hugely accumulating debt to future England taxpayers and there are some reports that £600 billion or so may have to be borrowed in coming years.
To cap it all, we now have both UK Tory and UK Labour parties bickering about what each is likely to spend in the year 2009/10, totally ignoring the financial pains already to be inflicted on England’s inhabitants.
England’s voters, custodians of this country for the coming generation, must take control and demand self-governance for England – a new political regime dedicated to put the the people of this country first – just as Celtic countries have enjoyed since the 1999 devolution. A subjugating UK Westminster and its self-indulging UK parties are failing England’s inhabitants big-time.