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.




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

IDS responds to Juncker’s pints analogy earlier:

“Mr Juncker knows a little bit more about the bar than perhaps many of us do.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Davis: Brake Leaked His Own Letter Davis: Brake Leaked His Own Letter
Brake Misleads Bercow About Guido Story Brake Misleads Bercow About Guido Story
Labour Charge Electric Campaign Vehicle in Parliament Labour Charge Electric Campaign Vehicle in Parliament
Mr Rayner’s Alternative to Badger Cull Mr Rayner’s Alternative to Badger Cull
Sir Cover-Up, Sir Craig and the Curious Case of His Memoirs Sir Cover-Up, Sir Craig and the Curious Case of His Memoirs
Alun Cairns’ Tippy-Toes Pose Alun Cairns’ Tippy-Toes Pose
Pidcock Publicly Owned Pidcock Publicly Owned
Young Labour: Leave NATO, Abolish the City and Reject Two-State Solution Young Labour: Leave NATO, Abolish the City and Reject Two-State Solution
Salmond and Tasmina’s Boozy City Break Salmond and Tasmina’s Boozy City Break
Sunday Show Highlights Sunday Show Highlights
Tory MP’s Two Nicknames for Hammond Tory MP’s Two Nicknames for Hammond
Sadiq: “I’m an Uber Man” Sadiq: “I’m an Uber Man”
Tom Brake’s Epic Legatum Whinge Tom Brake’s Epic Legatum Whinge
Juncker: Thanks For Saving Us in The War, Now You Must Pay Juncker: Thanks For Saving Us in The War, Now You Must Pay
Tom Brake’s Epic Legatum Whinge Backfires Tom Brake’s Epic Legatum Whinge Backfires
Starmer Admits Public Clueless as to Labour’s Brexit Policy Starmer Admits Public Clueless as to Labour’s Brexit Policy
Melania Sports Sam Cam’s Cefinn Melania Sports Sam Cam’s Cefinn
Mounting Buzzfeed Losses as Staff Salaries Average £60,000 Mounting Buzzfeed Losses as Staff Salaries Average £60,000
Vince Welcomes LibDems’ Harvey Weinstein Back Into Fold Vince Welcomes LibDems’ Harvey Weinstein Back Into Fold
74% Say No Deal Better Than A Bad Deal 74% Say No Deal Better Than A Bad Deal