Aug 08 - GSD Says The Government Is Looking To Confuse People
The GSD says the Government’s response to its leaflet distributed throughout Government housing estates last week is nonsensical adding that it is jargon intended to confuse the public.
A spokesman for the GSD said: "The simple fact is that the Government has borrowed £300 million and to do so has mortgaged six government housing estates. A mortgage puts this housing at risk if there is a default, despite that the Crown may still own the freehold. To talk of institutional investment is to camouflage that simple reality with meaningless gobbledygook.
"What the response does not say and which is significant is whether £300 million is additional borrowing or to be used to pay off existing debt. If it is the former, the public debt of the Government and its companies will shoot above £1.1 billion in contradiction to GSLP/Liberals manifesto promises at the last election!
"The Government has it wrong. At the time of the 2011 elections these housing estates were not owned by Government companies. They were all owned by the Government when the GSLP-Liberals came into office. It was Mr Picardo who placed the Mid-Harbours estate into a Government owned company after this election.
"The reason why the Government has mortgaged these estates is because it has spent and borrowed too much money already."
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