Alistair Darling begs G20 for extra IMF funding
In what appears to becoming a series of begging letters it has been revealed that Alistair Darling has asked his fellow G20 members to commit to additional funding for the International Monetary Fund (IMF). While this will come as no surprise to those close to the situation the figures in question are around $250 billion in addition to the $250 billion which the IMF currently receives. So where exactly will the money go?
The problem for many people in UK is the fact that the vast majority of money available will go to developing and emerging economies such as India, Indonesia, Turkey and South Africa which are struggling under the weight of the current economic slowdown. However, when you also consider a country such as the UK could see national debt rise to £2 trillion and each taxpayer in the UK is around £40,000 per person worse off over the last 12 months, surely some of the funding should be aimed at leading European economies?
All this talk of funding overseas economies, often at the expense of countries such as the UK, will do nothing to enhance the reputation of the European authorities with a general consensus being that they are taking over. The UK authorities will need to be careful if they are to retain the trust of UK voters ahead of the general election in 2010.
Share this..
Related stories
Is the property sector turning?
News that a consortium of Indian and Gulf investors may well be looking at a takeover of British Land has prompted many analysts and investors to revisit the property sector. While the reports are as yet unconfirmed, the sharp spike in the British Land share price over the last two days would indicate that potentially there could be something on the cards.
The consortium is said to...
BSkyB set for massive fight with Ofcom regulator
BSkyB is a today looking at a potential legal battle with media regulator Ofcom which has the company firmly in its sights. Surprisingly, BSkyB looks set to be the main casualty of the collapse of Setanta as the regulator looks to expand the media base for pay-per-view TV and premium packages such as sports and movies.
Ofcom has put forward a suggestion that BSkyB offers to sell key...
BA workforce responds positively to management working request
Workers at British Airways have reacted positively to the management written request for assistance in reducing the airline's cost base. Originally Willie Walsh, the chief executive of British Airways, had asked up to 40,000 workers to give their services free for one month in an attempt to try and get the company back on track. However it has been revealed today that while many workers have volun...
Read MoreAre our MPs being treated differently from taxpayers?
As news emerges that 27 MPs are under investigation by the tax authorities, with one MP potentially under investigation by the police, there are concerns that UK MPs are being treated differently from everyday taxpayers. A number of cases of alleged fraudulent activity have already been clarified and the very fact that Parliament has asked a number of MPs to repay significant amounts of money is a...
Read MoreIf we can't trust HMRC who can we trust?
Today's news that up to £1.6 billion may have been overpaid by UK workers has sent many taxpayers in the UK scurrying for their latest payslip. This could not have come at a worse time for the UK government with national debt continuing to mushroom, the UK budget stretched to the limit and a general election to be held within 12 months. When you also take into account that auditors of UK governme...
Read More