Budget Day: The cold, hard numbers of rich and poor Britain.Posted: July 8, 2015
My favourite little factoid about the House of Commons has to do with Budget Day, and it’s this:
“Members may not eat or drink in the chamber; the exception to this rule is the Chancellor of the Exchequer, who may have an alcoholic beverage while delivering the Budget statement” (Wikipedia)
Today, it may be the rest of us that need the alcohol.
In 2008, the British government approved a rescue package to British banks. The banks had lowered their credit standards, given out more money and brought in profit for their shareholders. Then the housing bubble went pop. The greed of bankers and shareholders who wanted to lend out more money to bring in more profit, meant that the returns weren’t coming back in. And the banks were running out of money.
£500,000,000,000 is what it look like when you write it out. It’s a whole load of zeros. Let’s look at another number that has a lot of zeros.
£16,000,000,000. That’s sixteen billion. Which is the amount the banks paid out in bonuses the year they received the bailout.
How about another number.
£50,000,000,000. Fifty billion. That’s how much the government gave to the banks in 2009, for the second bailout.
£93,000,000,000. Ninety-three billion. The amount handed to businesses in subsidies and tax breaks.
£12,000,000,000. Twelve billion. The amount Osborne is expected to cut from the welfare bill before 2017. The money that goes to the poorest people in society.
Because when you’ve given £516 billion to the banks to fix their mistake, and £93 billion to businesses to make sure they’re alright, someone has to foot the bill. And the people footing the bill are the people who never had any money in the first place.
More numbers? Alright then.
£20,000. Twenty thousand. The amount of money a family outside London is expected to live on. (Here’s a previous blog post about how that pans out)
3,500,000. Three and a half million. The number of children in the UK living in poverty.
1,084,604. One million, eighty four thousand, six hundred and four. The number of people who had to receive emergency food and support from the Trussell Trust food banks in 2014-15.
15,955. Fifteen thousand, nine hundred and ninety five. The number of benefits sanctions in the FIRST THREE MONTHS of 2014.
One final one? Gladly: