Brown Debt

Today the exchange rate is around $2 norteamewricanos per pound sterling, so the prices in pounds are always double in U.S. currency. As the central article of the newspaper The Independent debt level advertised (43 billion) is equivalent to 3.2% of the product, something which violates the Treaty of Maastricht, which only allows a ceiling of 3%. In addition, it continues that source, debt could end up surpassing the 78 billion because we must take into account the nearly 60 billion package to rescue the semi-quebrado Bank Northern Rock, who has just be nationalized. As the debt grows the Government will attempt of reducing it increasing taxes and reducing spending on social benefits. In this budget it is estimated that there will be an extra 3.2 billion taken out to taxpayers in this triennium. Criticism of Conservative leader David Cameron questioned the Government for having the largest public deficit in Western Europe, for having responded to the reduction of the credit with a reduction of its own credibility and by raising taxes (towards reaching the highest levels in history) rather than reduce them to encourage private investors (following the example of the USA). Instead, the liberal-democrata leader Nick Clegg argues that measures of Darling point to benefit to the super-rich and penalize the poorest, as mothers and single parents.

John McDonnell, the contender from Brown at labour internal, accuses his Government said that it will eliminate child poverty when it only seeks to resolve cases of 250,000 poor children out of a total of 2.5 million of them. The sectors most affected by the new taxes are alcohol, tobacco, and polluting cars. These measures have been well received by several groups of doctors and ecologists because they believe that this would reduce youth alcohol abuse or pollution. However, many advertised various taverns could close.