Joined: 03 Jun 2005
|Posted: Sat Nov 05, 2011 9:36 am Post subject: CAMERLOON GIVES AWAY OUR MONEY AND FUTURE TO EU,
|Find a Job M&S Wine Our Papers Feedback My Stories Saturday, Nov 05 2011 9AM 12°C 12PM 13°C 5-Day Forecast 'We want a vote': Tory revolt as Cameron pledges to increase Britain's contribution to the IMF By Daily Mail Reporter
Last updated at 12:55 AM on 5th November 2011
Comments (238) Add to My Stories Share
MPs could be denied a vote on plans to increase Britain’s contributions to the International Monetary Fund by as much as £400 per household.
Britain is ready to boost the amount of taxpayers’ money that can be drawn on by the IMF, which makes loans to indebted countries in exchange for austerity measures, by up to £10billion.
But Conservative MPs are furious that British cash could be used for rescuing countries in the eurozone – even indirectly, via the IMF – and are threatening to join forces with Labour to try to block the move.
Revolt: Mark Pritchard, right, a leading member of the new 81 Group of euro rebels, called for a vote on the IMF increase announced by David Cameron
Shadow Chancellor Ed Balls signalled Labour’s opposition, saying: ‘The fear is that we’ll end up with American and British taxpayers stepping in to do what the eurozone seems unable to do for itself and that will be absurd.’
There had been speculation that the UK might be ready to double its shareholding in the IMF from £30billion to almost £60billion.
More...Greece won't leave the Euro insists Osborne as PM Papandreou faces no confidence vote on bailout deal
State-owned Royal Bank of Scotland returns to profit with £2bn gain in just three months
MORE British billions risked to save euro: Cameron raises commitment to IMF rescue above £29bn as Greek crisis deepens
But David Cameron insisted Britain would instead use the ‘headroom’ in a deal agreed by Gordon Brown in 2009, and already passed by Parliament.
The maximum increase allowed under that deal would be £10billion. Last night, the prospect of a decision being made in the near future receded as the G20 summit in Cannes rejected Mr Cameron’s calls to agree a new figure for the IMF’s funding.
Increase: The IMF headquarters in Washington, U.S. The Prime Minister said the IMF boost would be within the 'extra head room' agreed by Parliament this year
Currently, its firepower is around £600billion, but economists suggest the sum should be doubled to reassure markets that it can step in if indebted economies in the EU and elsewhere go into a Greek-style meltdown.
Mr Cameron said: ‘Britain stands ready to contribute – it is in Britain’s interests.’ He insisted that increasing UK contributions to the IMF ‘does not put Britain’s taxpayers’ money at risk’, pointing out that no country had ever lost money through IMF loans.
Eurosceptic Conservative MP Peter Bone said it would be ‘sheer folly’ for the UK to put more money into a eurozone bailout.
He added that he would not oppose an increase in Britain’s contribution to the IMF, as long as it was not used to bail out eurozone nations.
David Cameron speaking at the summit this week. Britain currently contributes £29billion to the IMF lending power of £600million
Asked whether MPs would try to force a debate on any increase, Mr Bone said: ‘Oh, I’m sure we would. We debated the last change on the IMF. The thing to remember is that the Prime Minister has said that no British money will go in to bail out Greece.
‘So while I’m not against putting money into the IMF, I’m very much against the IMF using the money to support the eurozone, which is not their traditional role.
A vote of confidence in George Papandreou's government is due tonight
‘It would rather be like putting money into Florida or Yorkshire – it’s quite a ridiculous idea. The people responsible for the eurozone should bail out the rest of the eurozone, and that’s principally Germany and France.’
A vote of no confidence should be demanded by the British people and any MP who gives a damn about their constituents wishes. The coalition and Cameron's actions fly directly in the face of what the British public voted for at the last general election.
We are being run by a bunch of wankers who have never had a job in their lifes always putting the UK last, giving away our power, letting in millions of people who should not be here spunging and getting preference over YOU.
Tell your MP that you want him to put in for a vote of no confidence, thats his job TO DO WHAT YOU TELL HIM, NOT THE OTHER WAY ROUND.