04/12/2014 00:00
l Dear Sir,
Today (Wednesday) the Chancellor of the Exchequer has announced in Parliament that Britain has paid off all of our debt. Yes you heard that right all of the debt!
Not the overall National Debt unfortunately but what we borrowed for World War I.
He (George Osborne 2010-to date) thinks the National Debt will be cleared in 5 years by 2019.
Let’s hope he does better than David Lloyd George (Chancellor 1908-15) who never mentioned 100 years of interest payments on the money he borrowed back in 1914.
The fact that this comes in what Westminster refers to as the autumn statement and we are in December doesn’t fill me with confidence!
Mike Lillico
Playa de Palma
No comments
To be able to write a comment, you have to be registered and logged in
Currently there are no comments.