Record numbers of British elderly folk have become insolvent due to inadequate pensions — but the Department for International Development (DFID) has just announced an investment of $1.1 billion in the Asian Development Bank which is aimed at “helping the poor in Asia.”

According to news reports, a record number of pensioners were plunged into insolvency last year and projections are that the number will rise even higher this year.

Accounting firm RSM Tenon was quoted as reporting that nearly “7,000 British pensioners lost their battle to keep financially afloat in 2009.”
According to the report, “many of Britain’s 11.2 million pensioners are facing a toxic combination of poor or non-existent pensions, no savings, large debts and a struggle to find work to pay the bills.”

According to the RSM Tenon figures, some 4,816 pensioners were declared insolvent in 2008, and in 2009, the number rose to 6,952.

At the same time, however, the British taxpayers have just given $1.1 billion to buy 2 percent of the shareholding of the Asian Development Bank (ADB).
The move to invest the money in the ADB came after “parliamentary approval,” the DFID statement added.

In other words, a cross-parliamentary body consisting of Tory, Labour and Liberal-Democrats approved this expenditure.

What this means is that all of these parties put the interests of people in Asia ahead of British people, especially the elderly, who must struggle to make ends meet on the miserly state pension.

The only time that foreign aid can even be considered is when there is no need or poverty within our own borders. Until then, it is nothing short of treason to plunge the taxpayers of Britain into even more debt to fund foreign aid.
Original article... HERE

Return to index