Monday, 13 October 2014

Are you gullible enough to believe George Osborne's misleading pro-privatisation propaganda?


On Monday 13th October 2014 George Osborne announced his plan to sell off the 40% stake in Eurostar owned by the UK government.

The fact that George Osborne is planning to sell off this profitable national asset is hardly surprising, given the ideological hatred of public ownership that runs through the Tory party.

What is shocking is the absurdly misleading language George Osborne has used to defend this ideologically driven sell-off. He made the ridiculous claim that the projected £300 million pounds in proceeds from the sell-off "would make an important contribution to the task of reducing the public sector debt".
The latest available figures on the public sector debt (which is calculated by deliberately hiding the huge sums used to bail out the insolvent financial sector "off balance sheet") show that the UK is £1,432.3 billion in the red.

The £0.3 billion to be raised from this sale equates to one five thousandth of the current national debt, which is hardly what anyone could reasonably call "an important contribution".

Another misleading aspect within George Osborne's statement is his implication that the Tories are engaged in "the task of reducing the public sector debt", when the economic evidence shows that in just four years Osborne has created more debt than all the Labour governments in history combined.

The appalling failure of George Osborne's ideological austerity experiment means that the UK is still borrowing almost £100 billion per year, despite the fact that when the Tories came to power in 2010 Osborne claimed that he was going to have completely eliminated the budget deficit by now.

To pretend that the £0.3 billion proceeds from this sell off would help to reduce the national debt, when he's still increasing the debt by an extra £100 billion per year is disingenuous at best. Either he knows that he's talking utterly misleading crap when he says claims that the proceeds from this sale are
"an important contribution" or he's so economically illiterate that he can't see that £300 million is a tiny drop in a £1.4 trillion ocean of debt.
Once again were left with the unavoidable conclusion that George Osborne is either an innumerate idiot who should have been let nowhere near the levers of power, or he's so brazenly dishonest and full of contempt for the public that he believes that they're so gullible, they'll fall for his desperately misleading pro-privatisation propaganda.


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