Comments on: European Socialist Leaders call for Financial Transaction Tax 2011/03/24/european-socialist-leaders-call-for-financial-transaction-tax/ London MEP European Parliament Tue, 01 Mar 2016 16:57:05 +0000 hourly 1 http://wordpress.com/ By: Daniel Oxley 2011/03/24/european-socialist-leaders-call-for-financial-transaction-tax/#comment-4217 Mon, 28 Mar 2011 23:12:07 +0000 ?p=14147#comment-4217 Raising taxes of any kind does not ‘support economic recovery’. Those who cannot grasp this should watch a brilliant Channel Four programme called Britain’s Trillion Pound Horror Story http://www.channel4.com/programmes/britains-trillion-pound-horror-story/4od#3153186

The programme is informative in many ways and one of the horrors, apart from the size of our National Debt, is the failure of our politicians to grasp the most elementary facts about our problems.

Many MPs were interviewed and Parliamentarians from each branch of the Lib/Lab/Con Party showed that they did not know the difference between the Budget Deficit and the National Debt. They seemed to think that the problem was the Budget Deficit of about £155 billion pounds not the National Debt of £4.8 trillion. I have no doubt that this error is wide-spread in the House of Commons but the ones who exposed their ignorance on the programme were, Tom Brake (LibDem), Cathy Jamieson (Lab), Ben Bradshaw (Lab), Alan Johnson (Lab), Rachel Reeves (Lab) and Elizabeth Truss (Con).

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