Whilst the Banks are reprting record profits and consumers reporting record debt is there a connection between the two?
With readily availible debt being promoted by the Banks at high interest rates ,along with high punative charges are we being seduced by the Banks and Government to borrow in order to fill their coffers?
Credit card debt is reported currently at £68 billion, conservatively the Government collected £ 10 billion in VAT from this, if the money was used for petrol, booze or fags this contribution is four fold,Banks of course accrue interest and charges above this.
Is this Robin Hood in reverse,fleece the poor to give to the already rich?
2007-03-11
21:58:05
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3 answers
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asked by
Anonymous