Please note that the post below was published more than ten year ago on 21st November 2009 Nick Herbert MP, shadow cabinet member for the Environment, Food, and Rural Affairs, was in Cumbria this morning to see the areas affected by the flooding. He writes on Conservative Home about his visit. Here is an extract. I’ve been in Cumbria today to see the areas affected by the floods. I arrived early in Keswick where I met officials from the Environment Agency. Although the river levels had fallen considerably and homes were no longer flooded, the damage to homes had been done. And the water which had got into houses wasn’t just from the river – it was foul water which had risen from the drains. I talked to fire crews who were pumping flood water back into the river, and discovered that they were from Tyne & Wear and Lancashire. They had been called in at an hours’ notice and had been working on the scene ever since, staying at a local hotel. You cannot fail to be impressed by the...
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which in turn means that borrowing is happening, which means interest is being paid, which means less money is going towards its purpose and more is going towards paying interest to banks.
So in effect what is happening is we are tying down future generations to pay endlessly for stuff they never did benefit from.
However, Thomas Sowell is an American economist and he was referring to the fact that even if you are not running a deficit, throwing taxpayers' money at a problem does not always make the situation better.