Wednesday, 5 August 2015

Gordon Brown vs George Osborne

Comment from Clive Jones on the sale of RBS shares:

I am sure Wokingham residents are wondering what the difference is between Gordon Brown as Chancellor of the Exchequer and George Osborne.

Gordon Brown sold the countries gold reserves at a knock down price losing the county about £900 million. George Osborne has started to sell OUR, the taxpayers stake, in the Royal bank of Scotland at a knock down price. If he continues as he started yesterday he could loose US, the taxpayer, nearly £20 billion. Considerably more than Brown lost.

The sale of RBS would not have happened if the Liberal Democrats had still been in the Coalition.

Just think for one moment how much you and I have to spend to create tax revenues of £20 billion. How many goods and services that attract VAT we have to buy, how much petrol we have to buy and how much income we need to create this sort of tax revenue that is now being thrown away by George Osborne because he thinks the state has no place owning shares in a bank.

£20 billion would have easily covered the cots of the Elderly care cap of £72,000 per person agreed by the coalition and now scrapped by the Conservatives. How many potholes would this money have fixed. How many badly needed roads could it have funded. How many hospitals could it have helped fund. How many new drugs could it have paid for. The list goes on.