One in Ten
Chorus:
I am the one in ten*
Some int’rest on a debt
I am the one in ten
Settling such a monstrous bet
Nobody knows me
Even though I`m always there
A statistic, a reminder
Of a Gord that doesn’t care
My arms enfold the dole queue
Malnutrition dulls my hair
My eyes are black and lifeless
With an underprivileged stare
I’m the beggar on the corner
Will no-one spare a dime?
Cronies rolling in their Bentleys
Bank rescue was a crime
[Chorus]
I’m the MP, I’m the taxman
The licence with the gun
I’m a thieving bastard Speaker
Holidaying in the sun
I’m a middle aged politician
With chronic endless greed
I’m another bankrupt citizen
While the courts demand their fees
[Chorus]
I’m a starving English mother
A refugee without a home
I’m an MP hooked on expenses
I’m a Pensioner alone
I’m a foul, mendacious bastard
Desiring the Earth
I’m another tax free pay rise
Centuries will curse my birth.
[Chorus]
* More than 10p in every pound of tax Britons pay will within four years go straight on the Government’s ballooning debt interest bill, according to figures underlying the Budget calculations, it has emerged.
The scale of the “repayment shock” facing Britain as its national debt climbs to the highest level since the 1960s was laid bare as the Institute for Fiscal Studies calculated, based on Treasury figures in the Budget , that debt interest payments will climb to £73.8bn by 2014/15. At this level – 10.6pc of total tax revenues – debt interest payments would be at the highest level since the 1980s, when Nigel Lawson was still gradually reducing the scale of Britain’s national debt.
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- March 27, 2010 at 08:04
{ 5 comments… read them below or add one }
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1
March 27, 2010 at 08:00 -
2
March 27, 2010 at 10:24 -
Britains debt mountain now stands at about £900Bn and this year Alistair is pleased to announce that he won’t have to borrow £175Bn as forecast but only £167Bn so saving us £8Bn that he can use to spend on essential frontline services.
And even better he has made debt illegal and will halve our borrowing within 4 years to £80Bn. By this time of course our debt mountain will have reached abot £1.4trillion. And so our interest payments will be about £100Bn annually. The UK’s debt will equal our annual GDP and continue to rise thereafter.
Oh and sadly this debt mountain of £1.4trillion hasn’t taken into account PFI and other items that aren’t included so will actually be higher.
All in all I’d say the UK was finished. Bankrupt. -
3
March 27, 2010 at 14:46 -
Busto
Bustas
Bustat
Butamus
Bustatis
Bustant -
4
March 27, 2010 at 19:10 -
“… he won’t have to borrow £175Bn as forecast but only £167Bn so saving us £8Bn that he can use to spend on essential frontline services.”
How does that work ?
I heard something like this on Budget Day and couldn’t quite grasp the logic of the idea then. Lets say you have no money and need to borrow £200? Okay, later you realise you only need to borrow £180 instead. How do you end up with £20 to spend on something else?
Its illogical… isn’t it?
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5
March 28, 2010 at 00:36 -
John
You’re right of course but this is Gordonomics we’re talking about here.
The MSM political analysts talked about what a windfall we had recieved and it gave Alastair ‘ more scope to splash some money around on electioneering ‘
It’s like living in a parallel universe sometimes.
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