Austerity? What Austerity…???

UK Net debt

UK Debt (Source: ONS)

Take a look at this infographic just released by the ONS (and featured in The Guardian).

The UK now owes over £1.5 Trillion, and as importantly it also shows that far from there having been austerity since 2010, there has in fact been a massive borrowing splurge.

George Osbourne (the Chancellor) has been implementing a strategy of  Keynsianism on steroids for the past few years  – this year alone he will be ‘pump priming’ the UK economy with yet another £70 Billion!

And who lent all this money to the government? The same much derided banks and financial sector who caused the financial crash!

So who’s going to be paying this debt (plus interest payments) back to the banks? Not the older generation who got us into this mess – they are all protected with protected pensions. No, it’s the kids and young adults and their children who will be left with repaying this burden.

So, forget your anxieties about paying off tuition fees – it pales into insignificance compared to this HUGE ‘Debt’ millstone you’ve been lumbered with.

The truth is that all young people (already locked out of the housing market by the pampered older generation) should be demanding ‘MORE AUSTERITY NOW’!


 

Read the complete Liberal Awakening Manifesto at:
www.JooMo.org.uk