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12, November 2019

UK Treasury to ask for payday loan to cover election promises

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The UK Treasury is applying for payday loans to pay for excessive spending promises by Conservatives and Labour

The UK Treasury is applying for payday loans to pay for excessive spending promises by Conservatives and Labour

With both the Conservatives and Labour promising to spend trillions of pounds if they win the election, the Treasury is making plans to apply for payday loans to cover the cost.

A Treasury spokesperson said: “Whichever party wins the election, they’ll bankrupt the economy with all their spending pledges. Even stopping Universal Credit and taxing the rich won’t cover the shortfall.

“We would have been able to apply for a load from the EU but not, of course, if we leave. They’ve shot themselves in the foot with that one.

“The only other option is to apply for a few payday loans.

“Unfortunately, increased regulation meant that many of the companies have gone bust so there are fewer companies to get a loan from. The government shot itself in the foot with that one.

“On the bright side, politicians never keep their promises so half the proposals will never see the light of day.

“We’re trying to juggle a £1.27tr loan at 123% interest per annum over nine years.

“We may have to join the EU again and ask them to bail us out.”

Ref: BBC News UK’s credit rating could be downgraded, says Moody’s

What big promise did you make that you never kept?
When you lend money, what interest rate do you charge?
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