Taxpayer hit again as wealthy live in luxury

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From: Malcolm Naylor, Grange View, Otley.

ALTHOUGH family budgets are stretched to the limit the Establishment is still giving away our money, as if it grows on trees, to global capitalists.

The latest example is the doubling of our contributions to the International Monetary Fund (IMF) to £9bn. To put this in perspective, this sum of money is more than the cost of two new aircraft carriers and 12 per cent of the NHS budget. And if you think that is bad then there is worse to come. According to the BBC, UK banks are exposed to £43bn of debt in Italian banks.

The Government treats us like fools and insults our intelligence by saying “this will not impact on the taxpayer as it comes from a reserve fund”. This nonsense ranks alongside Harold Wilson’s infamous statement that “devaluation will not affect the pound in our pockets”.

Reserve funds ultimately and always comes from the ordinary taxpayer while the wealthy Establishment continues to live in luxury, like the Duchess of Cambridge who changes her £4,000 dresses three times a day.

Meanwhile, the elderly and disabled are deprived of care services, pensions are cut, and basic living costs increases.

As the euro crumbles and Greece, Spain and Italy teeter on the brink of economic collapse, the IMF will be looking for further contributions and we won’t only be tightening our belts. We’ll be screwing down the coffin lids.