Saturday, April 21, 2012

Chancellor Criticised Over £10bn IMF Pledge...Sure throw another 10 Billion at the Black Hole, it's only our Tax

George Osborne is facing criticism from Parliament for announcing that Britain will commit another £10bn to the International Monetary Fund.

Both Tory backbenchers and Labour MPs have accused the Chancellor of using more taxpayer's money to go towards further bailouts of the struggling eurozone.

They have also said he has dodged a potentially embarrassing parliamentary vote on the extra contribution.

If the increase had gone beyond £10bn, Mr Osborne would have required a fresh vote by MPs.

But the Chancellor has insisted the increased funding is vital to protect jobs and growth in this country.

Finance ministers and central bank governors struck the deal, which should boost the IMF's resources by $430bn, at a meeting in Washington. Read More