UK: Independent reveals extent of foreign takeover
Posted by seumasach on November 22, 2014
This is a tendency that can only intensify as Britain devolves control of finance. This effectively means we’re giving up our credit card since no regional or devolved administration is sovereign and will not be able to issue sovereign bonds as before. Nor will the UK government itself since it no longer controls its tax base. The SNP has already pointed out that Scottish government borrowing will be within a context of a balanced budget rather than the traditional rolling over of debt and coverage of interest charges only. This end of Keynesianism is accompanied, logically, by the demise of the Labour Party and the left.The UK is and has been for years totally dependent on capital inflows. However, the form these take is changing: rather than going into government bonds they are going into direct investment and purchase of assets.
Revealed: How the world gets rich – from privatising British public services
20th November, 2014
Foreign governments are making hundreds of millions of pounds a year running British public services, according to an Independent investigation highlighting how privatisation is benefiting overseas – rather than UK – taxpayers.
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