There is a an alarming film on this link on the moneyweek website, that suggests that the true state of Britain's indebtedness is far far worse than British politicians have publicly admitted, with debts currently at 508% of the value of our economy - a level that puts us in a far worse position than France, Germany, Italy or even Greece (we are twice as badly off as them, whose debt is only at 276% of their economy) .... in fact the only countries worse than us in the report, are allegedly Japan and Ireland.
Essentially the report is stating that the cuts and austerity regime were far too soft, because the British public are too wedded to a NHS and welfare system, that is not in force in the rest of Europe - they point out that when the welfare state started in the UK, the funding required was tiny, as the pensions went only to men aged over 70 years (when the average male life expectancy was just 48), which meant that it was the equivalent of offering a pension to man aged 115 now!
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| Our Debts Are Amongst The Worlds Worse |
Essentially the report is stating that the cuts and austerity regime were far too soft, because the British public are too wedded to a NHS and welfare system, that is not in force in the rest of Europe - they point out that when the welfare state started in the UK, the funding required was tiny, as the pensions went only to men aged over 70 years (when the average male life expectancy was just 48), which meant that it was the equivalent of offering a pension to man aged 115 now!
