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posted 2 Aug 2016, 05:52 by Peter Webb   [ updated 2 Aug 2016, 21:39 ]

The real referendum issue was the location of government HQ and the Constitution relative to Brussels. That has been settled subject to the unpicking and within international financial management. The “International” is global interactivity and  includes the Eurozone and the Sterling area. The IMF has just been criticised by its independent examiner for its role in the Greek crisis and failure to grasp that currency unions require treasury and political union or are vastly exposed to debt crises. The same goes for the sterling area and its uncontrolled devolution method.

It is time our political leaders levelled with us. What do they plan to do about debt and new funding? To keep on about the “economy” tells us nothing. Important now is the financial future which we need to have explained to us.

The former Chancellor, a politician by trade perhaps but not a CFO (or tax pruner), apparently abandoned the enacted responsibility to 'balance the books' by 2020. That was an unquantifiable phrase presumably for we 'ornery folk'. The system of our traditional national accounts forces the wrong priorities. Key facts are in short supply from a financially illiterate government. For the Referendum there were only unstatesmanlike fearful threats  from the then PM and Chancellor.

 Enough of the continuing bile around referendum "lies" and  of our being misled. Surely if £350m regularly goes to the EU for distribution including to UK then when we take back control we decide what to do with it. It was probably  borrowed "in the markets" in the first place. Illustratively some of it could (not would) go to the NHS. The referendum was not a general election and as was explained no promises could be made. 

Disgracefully, we who had to be allowed to vote in the referendum are  not allowed to know  the nation's public financial activity and health scoreboard. Party behaviour  and political decay see to it that the universal franchise doesn't yet extend to formal accountability.

 There are no UK Accounts since 2013-14 to show consolidated net liabilities including Scotland's £12bn overspend in 2014-15 which was let through the treasury/political hole in the devolution method, and such as Surrey’s Woking council which apparently has the highest borough debt in the country.  And the local newspaper has letters referring to the ‘hot potato’ of required new housing for which the cost of infrastructure and services is not provided for. Consolidated UK liabilities look set to pass £3trillion by 2020.

Are we now to be perpetually faced with the consequences, such as inflated asset values through to unaffordable housing, and inter-generationally deferred debt, of increasingly routine use of "extraordinary measures" such as quantitive easing?

 As one of the many formerly 'brain-washed' into docile acceptance of the government organism as the perfect vatican-like supremacy which cannot be questioned as "political" and which one ought to be able to assume has set the highest operational and decision-making standards to be followed down the line, it has been a shock to find that our Treasury is Cabinet-tolerated c**p that wouldn't last five minutes in a well-conducted large scale industrial enterprise