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Alice in Wonderland again


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UK Government Bails Out Less Indebted Liberia

Guido gets Treasury press releases, yesterday one caught his eye:

From Guido:-

UK helps Liberia take big step towards debt clearance

The UK today assisted Liberia in taking a big step towards poverty reduction by helping it clear the arrears on debt it owes....

Alistair Darling went on to boast about how great this was for Liberia, which he described as a "HIPC", a Heavily Indebted Poor Country. The 3 million inhabitants of Liberia have a government debt of $4.5 billion dollars, some £2.3 billion pounds or £767 per head.

Yesterday the ONS added £52 billion to the PSBR for Northern Rock taking the government's admitted debts to 42% of GDP busting, Gordon's already fiddled 40% golden rule. Gordon claims government debts stand at £536 billion, add in his off balance sheet fiddles like £725 billion of public sector pensions, £110 billion in payments due to companies in the next three decades under PFI and £18 billion of debt held by Network Rail and the figure is nearer £1.4 trillion, which is well over 100% of GDP. Now add on the private debts of credit card maxed-out Britons and the total debt is something like £2.7 trillion. Over £100,000 per household in Britain.

Which makes it seem very odd that Alistair Darling is bailing out the heavily indebted poor Liberians who have a tiny fraction of the debts that Labour has run up for Britons.

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It's a cunning plan worthy of the Black adder. Liberia runs a large fleet of rusting hulks - called ships - which sink with considerable regularity.

Gordon has years of practice trying to keep a sinking ship afloat and thus offered such aid to Liberia.

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I believe that charity begins at home and I abhor all this foreign aid as I'm sceptical as to whether it really gets to the needy and isn't being 'creamed off' by governments, etc.

My sentiments too. People are dying here because the funds aren't available for drugs for some serious illnesses. Just think how much has been given away this last few days, also to India and China. They treat our currency like monopoly money. :angry:

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The watchdog warned most of the nations receiving funding from the UK last year had major problems with corruption.

It called for improvements in the way the £461 million budget was managed.

But International Development Secretary Douglas Alexander said risks were "assessed carefully" and safeguards were preventing "the misuse of funds".

There also appears to be a rather major problem in the donor country too,..amongst others.his sister could testify to that. Well no she probably will not now.

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