LETTER: Country rich on borrowed cash

Apparently if the UK should exit the EU that will signal a world economic downturn of Armageddon proportions. The world is heading for recession whatever.

The US is many trillions in debt, the Saudis are borrowing money, Switzerland has a negative bank rate, China is in freefall and all of that because of greed and falsehood.

We are constantly told that we are a rich country and the world’s fifth largest economy.

Just like so many statistics and frequently trotted out speeches by government and their pals in the financial world most of it is misleading and largely lies.

I have a keen interest in how corruption and deceit shapes our lives, keeping the working class down whilst the elitists and plutocrats gain more power and wealth.

This country is only rich on borrowed money, and we’re racking up debt which currently stands around £1.7 trillion, according to slick George we are reducing the deficit.

Long subject, but Debt and Deficit are two very different things, our debt is increasing daily.

That doesn’t appear a wise strategy to me, borrowing to pay our dues e.g. the EU etc.

In 2013 [best reliable figure I could get] the Conservative-led coalition borrowed £91.5bn, with just £23.7bn of that being invested, the remainder fictitiously helping to balance the books.

Strasbourg is the dedicated home of the European Parliament and it is there where the rules are ratified.

It won’t please the Greens that 12 times a year a convoy of lorries has a round trip of 550 miles carrying tons of paperwork, followed by train or plane journeys for 750 MEP’s plus their entourage [all on expenses for three or four days] to vote on what they discussed in Brussels. You couldn’t make it up.

That is just the tip of the gravy train we pump millions of pounds into everyday.

Interestingly, many youngsters appear to have the view that we should stay in the EU because, ‘I speak another European language and would like to visit that country and maybe work there’.

In my three score and 10 years plus, I showed my passport and went there, without problems.

Paul Woolmer

Wannock Drive, Polegate

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