Financial nonsense; You Say Email:letters@liverpoolecho.co.uk.SO the Tory Tory (tô`rē), English political party. The term was originally applied to outlaws in Ireland and was adopted as a derogatory name for supporters of the duke of York (later James II) at the time (c. leader is attacking the PM and Labour, quite correctly, over their lack of honesty Honesty See also Righteousness, Virtuousness. Alethia ancient Greek personification of truth. [Gk. Myth.: Zimmerman, 18] Better Business Bureau nationwide system of organizations investigating dishonest business practices. [Am. over the state of the public finances. But where is the Tories honesty? Simply neither are being honest - I believe because though neither have solutions they both want to be in power. The latest figures put the true unemployment rate at 27.5% - with many others in part time or temporary employment. I have heard no potential remedy to deal with this from any party. Nor does Labour or Tory talk about cutting up to 10% off government spending Government spending or government expenditure consists of government purchases, which can be financed by seigniorage, taxes, or government borrowing. It is considered to be one of the major components of gross domestic product. to balance the books add up - a 10% cutwould take about pounds 67bn from this year''s total but the borrowing this year is set to be around pounds 180bn still leaving an unsustainable level of borrowing. While next year there will, hopefully, be no need for large interventions in the financial sector there will be much higher interest to be paid on government borrowing and higher social costs from increased unemployment. Mark Bill, address supplied |
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