Man in a Shed: DT says defence budget down 25% under NuLabour

Thursday, June 15, 2006

DT says defence budget down 25% under NuLabour

Just reading the DT Opinion, and it points out that defence spending had dropped by 25% since NuLabour got in.

That's a massive drop. Things must be getting bad. You see references to large amounts of our helicopters being unserviceable. Equipment denied to front line troops etc....

If NuLabour wants to fight all these wars they must provide the resources. ( As an aside you never hear them talk about 'investing' in the armed forces. That's one of the few things they will call spending.)

Anyway it looks shocking - *25% , in wartime !*

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The pound in your pocket

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“The trouble with theoretical economists is that they don't understand that when you have a deficit, you can only finance it by borrowing, and you've got to persuade people that it's worth lending money to you and that they'll get their money back... there's no way of escaping it.” Dennis Healey during the 1976 Stirling Crisis.

"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens ... Lenin was certainly right. There is no subtler, no surer means of over-turning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose." John Maynard Keynes, 1920.

"To preserve [the people's] independence, we must not let our rulers load us with perpetual debt. We must make our selection between economy and liberty, or profusion and servitude." Thomas Jefferson, President of the United States of America,1801-1809.

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