glasfryn
cleaning up cat sick
- Thread starter
- #61
Try here, it was on the website, not too difficult to find.
http://www.trusselltrust.org/resources/documents/Press/TT-Foodbank-Information-Pack-2013-14.pdf
I think part of the problem relates to the alleged £19b that never was. To clarify, and I'm sure someone will correct me if I've got the gist wrong. Ireland have bad credit rating and market x will only lend to them at a hypothetical rate of 20%. We, on the other hand have excellent credit rating, and can borrow from market x at a rate of 5%. So, we borrow £12b and immediately lend it to Ireland and charge a rate of 10%. We are therefore making a profit of £600m and Ireland are getting a much better deal. We run the risk of Ireland defaulting but in the real world we stand to lose a lot of trade with our close neighbour if they went the same way as Greece.
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It might have helped if you described it as borrow and spend your way out of a recession or tighten the belts.
I do understand this (and always have) my point is/has been why do we have to do this when we have ever increasing foodbanks used by our own people.
this country has always been run on debt what is this governments problem with this? and why are they making those that have nothing to start with pay to clear the debt and what worries me is its going to get worse under them and somewhat watered down if the others get in