You figures are wrong Inverarity.
The 'national debt' is quite different from the 'current account' public sector borrowing requirement (which is what the tory £90 billions is a
- Any and all right-wing so-called 'reform' groups imagine they can magically conjure vast savings 'just like that', it's what they do, have
always done and always will do.
Their reason for being is that taxing the already most well-off as little as possible is intrinsically 'a good thing'.
No matter how much of the burden this shifts to those with less 'broad backs'.
They always contend that if only 'we' could be just like the USA.
(.....and then when 'we' do get a right-wing government you wonder why tax always ends up going up for the bottom and middle end of the financial
But this is nothing new although even the tory party couldn't credibly 'sell' a figure of £30 billion cuts, er I mean savings, to the public last
year in the general election and Labour's £20 billion savings program remains to be seen (although the loud complaints have begun already).
As for the tax-burden under Labour?
Property tax has risen notably and that's about it (for the majority of people if you work, have kids and need childcare you're doing very well
But then property values have gone through the roof too so a tax tied to property value going up isn't exactly unexpected is it (or do you imagine
alternate government would just ignore that
, dream on matey.) ?
I must remember to tell myself that the new schools and hospital units I can see in my own area are just a figment of my imagination and are really a
"bureaucratic black hole!".
I don't think the UK could play the role of a small channel island either, those islands (like the Isle of Man etc) only do the business they do
because of their ability to play themselves off against the major British economic entity.
We could not just become like them.
There are a wide range of reasons why the UK is economically attractive to people and it does not just rest on a blinkered dutch auction for the
lowest tax rates (despite the Daily Mail/tory myth).
Political domestic stability, the stable and long link to the EU and, despite the loss of Empire, some of the trappings of a global currency enter
into the equation too to name just 3 additional factors.
In any event British taxes aren't particularly high anyway.......compared to all but the very last years of the last tory gov they - for the vast
majority - compare very well under Labour.
As for the idea that the "government could easily print/issue the money itself debt-free and relieve the burden on the taxpayer
"; you do
realise that this effectively means a nationalised banking system?
No thanks (and I think you'd find most Britions saying a loud "no thanks" to the idea of a state bank).
Private = good, public = bad?
I think most Britons have outgrown that kind of superficial silliness (as we can see by the tory party recognising the lack of appeal & dropping some
of their more ridiculous anti-public sector ideas).
[edit on 9-8-2006 by sminkeypinkey]