Reply to post: Re: Welcome to Cloud Cuckoo Land

Labour: Free British broadband for country if we win general election

I ain't Spartacus Gold badge

Re: Welcome to Cloud Cuckoo Land

Our pensions will pay, as they currently own the shares - and will get compensated at reduced rates with an asset that would soon crash in value. All the gilts they're planning to issue will massively push up interest rates - so we'll have those higher costs to deal with too. And of course, taxes will have to rise to cover the interest on all the bonds Labour are planning to issue. I think our current interest payments are about £30-40bn. So basically the entire defence budget goes on servicing the national debt. For context it was well under £10bn in 2007.

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