NEWS FROM THE CELTIC LEAGUE
Some people on the Island frequently refer to our ?government debt? which generally mean?s the MUA loan structure and the pension liabilities (both public and state).
It?s a narrative the Manx government like to play to because if we all think there?s this ?terrible? debt burden then it allows them to get away with inflicting all sorts of hardship on people.
The Chief Minister was at it this morning in the Keys he couldn?t manage to contribute to a debate about the horse trams without warning about doom and gloom. The term I think he used was ?we are not out of the woods yet? or such like.
The only problem is if Allan (and his successors) have their way we?ll never be out of the woods because it suits them to keep the population wandering around in the thicket worrying about ?our national debts?.
The problem really is unlike a real country the Isle of Man has to balance its books. It has not got real sovereignty and therefore for it to run a real National Debt like for example the United Kingdom would be well nigh impossible.
If they insist on calling themselves a ?government? but running their ?country? as if it a domestic house we?ll always be ?in the woods?! You sometimes wonder if Eddie has a few tins in the Treasury marked MUA loans, Pensions, Tynwald Xmas Party into which he puts a few pounds every week!
In the UK the Conservative government of David Cameron also hypes fears about the National Debt but in their case they have something to worry about because as of Q1 2015 UK government debt amounted to
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