BREXIT - WHAT ABOUT THE £48 billion PAID OUT BY THE UK GOVERNMENT EACH YEAR.

BREXIT –   WHAT ABOUT THE £48 billion PAID OUT BY THE UK GOVERNMENT EACH YEAR.                              

 

The UK Government gives away the first £48 billion of the money that it raises in taxes, approximately 8 per cent of the total, to rich people, bankers, investors and the worst part is that 28 per cent of that amount is given to foreign investors. Think what life would be like if the Government had an extra £48 billion to put into the economy to spend on the NHS, the Police Force, the Armed Forces, Education, Cash strapped Councils and Local Authorities etc.

 

So why do the Government have to give away so much of the money that they have raised in taxes before they have money to spend on the things that are important to the tax payers who have contributed to that amount. After 40 years as a member of the EU, one thing that we have been left with is a National Debt of £1.8 trillion, that is £1,800 billion. When the Conservatives took over from Labour, and there was that famous remark that there was no money left, not only had they spent all the money raised through taxation but it appears that they had borrowed £1 trillion, £1,000 billion, and spent all of that as well. While Gordon Brown appeared to managing our economy he was doing it on mostly borrowed money and we all know that eventually a day of reckoning will come around. Unfortunately due to certain things that had been put in place the Conservative Government, which always claims to be the Government of Low Taxation, didn’t appear to get control of the situation, despite introducing austerity measure and quantitive easing, still carried on borrowing and now that National Debt is at £1.8 trillion.

 

If we were to remain in the EU, with a National Debt of £1.8 trillion, nearly as big as our annual GDP figure, approximately 90 per cent which is higher than the 60 per cent limit set by the EU, and growing by the minute, which currently costs the UK £48 billion pre year in interest cost, 28 percent of which goes abroad to foreign investors, a trade deficit of £7 billion per month with the EU and the Government budget being in deficit and needing to be supported by further borrowing it would only be a matter of time before the UK exhausted its credibility and needed a BAIL-OUT from the EU. At that moment the UK would be finished on the world stage with no individual identity and absorbed as just a state of the EU. Any experience of austerity so far would be nothing compared to what would be imposed if the EU was given the total control of our affairs and the Euro was forced upon us, but imagine Germany’s approach if they were given the chance of dominating the UK

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The whole situation appears to be a Lack of Management  by Governments.

 

“When ordinary people do nothing the fanatics take over”. Edmund Burke

 

James Hancock. A Common Man.

Ormskirk.                                                                                                     Ref: B90616

(e) jh.acm@btinternet.com