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So Darling intends to borrow his way out of trouble ~ presumably knowing that there is no way he will be in place when the money has to be repayed.I may be simple but does it make sense to loan Northern Rock £25 billion, Other Banks £50 Billion and then have to borrow £2.8 billion to pay out as extra tax allowances rather than say "Sorry but Gordon can't count, he got it wrong so I'll just cancel that wee bit of his budget and all will be well"Bloody madness.http://uk.reuters.com/article/domesticNews/idUKLAC00283420080513
There is a simple answer to this whole mess that will free up a huge amount of cash for public spending. Put all MP's and ministerial staff on performance related pay. Given their current track record they would have to pay us.
What a farce...
Backbenchers rushed around, clenching their fists in relief, assuring me that at last common sense had prevailed. But how prudent, I asked them, was it to borrow quite so much when the public finances were so tight? My only reply was a shrug of the shoulders. What of the 1.1 million people on pretty low pay - £6,500 and £12,800 - who have only been partially compensated and will still lose out something in the region of £100 a year? We can sort that later, I was told. 'Expensive blunderbus' And what about what Robert Chote of the Institute of Fiscal Studies called the "expensive blunderbus approach" of paying most of the £2.7bn to people who were never hit by the 10p rate abolition in the first place? No problem, MPs said, that just means more cash for hardworking families when they are feeling the pinch.
I have never seen quite so much disbelief on Paxman's face as he was interviewing Darling last night.It was a case of
