STAGGERING LEVEL OF FINANCIAL MISMANAGEMENT FROM UK GOVERNMENT
I challenged the UK Government to explain the staggering level of incompetence that has resulted in the squandering of £11,000 million of taxpayers’ money, that’s £2000 for every man, woman and child in Scotland.
The National Institute of Economic and Social Research, the oldest non-partisan economic research institute in the UK, recommended that the interest rate rises in quantative easing reserves should be insured against by converting this debt into Government bonds with longer maturity. Failure to take this advice means that the UK now has an enormous bill and heavy and continuing exposure to interest rate risk.
I raised this in the House of Commons earlier this week and sadly, the Leader of the House seemed unaware of this grotesque incompetence of vast sums of taxpayers’ money.
Watch the exchange below 👇.