February 8th, 2008

UK Government Bails Out Less Indebted Liberia

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



Seen Elsewhere

David Ruffley’s Future Under Discussion by Tories | BBC
The LibDem’s Jewish Problem | Jeremy Brier
Israeli Ambassador’s Letter to Clegg | Twitter
What Became of Cameron’s Big Society Network? | Indy
SpAd Reshuffle | PR Week
Clegg Under Pressure to Expel Ward | Telegraph
Labour’s Teachers Trained in the Art of Brainwashing | Jago Pearson
R.I.P. John Blundell, Former IEA Director General | Atlas
UKIP Hasn’t Gone Away | ConHome
Ward: I’d Be a Terrorist if I Lived in Gaza | Breitbart
Ruffley Faces Deselection | Times


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Sarah Vine writes of Esther McVey…

“McVey told Grazia that she hasn’t married or had children because she ‘never found anyone to wind her biological clock’ … If I remember rightly, half the current Cabinet would have cheerfully ‘wound her clock’ if she’d given them a glimmer of a chance.”



Flight Watch says:

Russia Today is a cauldron of bullsh*t. The only people that take it seriously are deluded conspiracy theorists. Other RT journos have resigned citing the same reasons.

It’s about as believable as Press TV, KCNA of North Korea or the Daily Mirror.


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