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War in Libya
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The treasury have admmitted that the war in Libya will cost hundreds of millions of pounds. But don't worry they say, this money comes from a Reserve set aside for this. Presumably this Reserve was provided by the fairies.
If we can finance a war in terms of billions (and I think you're right) then we're not really hard up. Add to that Overseas aid etc. however necessary, and we're spending to little advantage for hard pressed local councils. And looming on the horizon is our probable contribution to Greece's debt. The goldn days are over.