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What Are We Doing To Help The Poorer Nations Through This Pandemic?

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ToraToraTora | 16:19 Wed 20th May 2020 | News
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not my question, Thomas from oop north on the Roger just now! Hopefully the answer is sweet FA, we are trying to help our selves through this you wally! We already give 0.7% of GDP to foreign despots as it is! Perlease!
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//A whole 0.7%! I am shocked to my marrowbone//

It 0.7% of turnover, barry. As you've probably realised by now (if you didn't know earlier) the UK does not make a "profit". It spends far more than it earns with the difference being made up by borrowing. Following this latest crisis that borrowing is set to soar enormously.

Imagine if you ran a sweet shop and you took £50,000 a year through your till. But the cost of stock, wages and bills etc. was £55,000. Would you be prepared to give £350 a year in overseas aid? Would you be prepared to service your overdraft and give borrowed money away?

The UK has more than £1tn in debts. The cost of serving that debt is greater than the defence and transport budgets combined. And that's before factoring in the huge cost of Covid. Do you really think it's fair to expect taxpayers to pay for even more debt so that money can be given away? The Overseas Aid budget legislation needs scrapping.
If I thought that foreign aid went to poor people in those countries then my opinion might be different but I object to adding to the bling mountain of foreign despots who are happy to see their people die. Travelling round India it was clear that no-one abuses poor Indians more than rich Indians.
It's not often that I agree with you,New Judge, but you are so right!
Strange that people only see what they want to see.
New Judge is quite right. Why on earth be charged to borrow to give it away? This is going to end in tears.
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"Imagine if you ran a sweet shop and you took £50,000 a year through your till. But the cost of stock, wages and bills etc. was £55,000. Would you be prepared to give £350 a year in overseas aid? Would you be prepared to service your overdraft and give borrowed money away? " - well barry, would you?
India has a lot of poor people.. this poor chap has to look out over the slums of Mumbai .. 600 staff for a family of six?

https://www.theguardian.com/business/2007/jun/01/india.internationalnews
All the world seems to be in debt?
Who too?

Pluto? Mars? The fifth dimension? Who?
Why is every country in debt and who is this debt owed to?
// well if 0.07 x N = 15 then N = 15/0.07 //

I think, TTT, you meant to type if 0.007 x N= 15 (billion) then N=15/0.007
>All the world seems to be in debt? Who too?

The answer is to us and to future generations
//The answer is to us and to future generations//
Us and future generations may inherit the debt. To whom shall we pay it?
Serious question, who are we in debt to?
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yes FF, thanks
The Bank of England is printing money. While inflation is low it's not an issue at the moment but once inflation picks up the government will need to take the money out of circulation or replace it by taking tax from us, cutting spending or relying on future growth- or it can just pay the interest and leave future generations to repay it
//Serious question, who are we in debt to? //

Oligarchs and Arabs.
ff, thanks for reply to a serious question.
But the bank of England doesnt 'own' the world so my question still stands...
Who do we pay the 'debt' to?
All countries are in debt apparently but who too?
How can an entire planet be in debt?
Another way of looking at it, apart from the printing money issue, is the government owes it to purchasers of bonds including us, pension schemes and the private sector. Unless they repay it they'll have to keep paying interest and rates may go up, pushing up the repayments and debt even more.
Almost every country is (maybe all are) in debt. It needs to be manageable debt
Economics isnt my strong point obviously ff but ill have a think about ur post.
Personally I just dont get how a PLANET can be in debt to something outside of itself.
Thanks anyway.
//Personally I just don't get how a PLANET can be in debt to something outside of itself. //

its not, it borrows money from oligarchs and Arabs. Russian and Saudi Arabia are not in debt (yet) and as far as I know are part of the planet.
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it's mostly to the citizens of the countries nailit. Eg premium bonds, the money is long gone they pay out 1.4% whatever it is based on the total invested by that money has been spent hence the government is paying 1.4% of £70 billion. That's just one of many sources.
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TBF money hasn't been real since 1971.
//We have no choice but to meet our obligations re the foreign aid commitment.//

Really. Where do you people come from?
By the way, every 'fact' you made up about FA was wrong.

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