Gordon Brown’s decision to gamble £500 billion of public money in an attempt to stem the crisis in the banking industry has stuck in the throats of millions.
After years of being told that it is “unrealistic” to expect the government to properly fund health, schools and housing, the announcement of huge amounts of cash for ailing banks shows the money is there to fund our services.
Instead of throwing money at the City, £500 billion could get us:
- Free school meals for every child in Britain for the next 250 years
- Five years of the National Health Service at current spending levels
- Around 2.5 million three‑bedroom houses (at London prices) – more than enough to give one to everyone on a council housing waiting list
- The sum of £20,000 extra a year for the next ten years to every pensioner in poverty