Are we better off in 2014 after the Budget?
A business contact said to me recently he thought he was better following the budget and asked me if I agreed. my reply was as follows:
As I am never sure what my income is each year, I do not know the answer to the question. However in the round, I would say it depends upon whether one is a saver or a borrower. If the latter, one should be delighted that one’s credit card has been extended. If the former one would be profoundly depressed at the thought of not being able to pay one’s bills and at having to pay compound interest for years to come.
In context, I believe the state debt mountain was around £350bn when Labour came to power. TB added £150bn, GB added £250bn and the coalition will add around £750bn making the total almost one year’s GDP. I believe only 10% of this increase by the coalition went to bail out HBoS and RBS. The rest is just too appalling to think about. I read recently the difference between a soldier and a politician is one gives up his today for your tomorrows and the other gives up your tomorrows for his today.
What do you think?
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