Making the news today....

[dan494]

Income dropped with the recession so to maintain paying out for everything they had to borrow to pay the bills. Seems sensible to cut spending while income is down to me. Unfortunately borrowing had started before so there was already debt

 

Sent from my SM-G930F using Arbtalk mobile app

[Richard 1234]

Income dropped with the recession so to maintain paying out for everything they had to borrow to pay the bills. Seems sensible to cut spending while income is down to me

 

Sent from my SM-G930F using Arbtalk mobile app

 

 

That along with paying for labours commitments and bailing the banks (and clearing houses that managed to change garbage loans into grade a ones somehow)that had little to no supervision from the government (read labour but the conservatives get some blame here too)

And you have a massive problem inherited

 

 

Sent from my iPhone using Arbtalk

[Mark J]

That along with paying for labours commitments and bailing the banks (and clearing houses that managed to change garbage loans into grade a ones somehow)that had little to no supervision from the government (read labour but the conservatives get some blame here too)

And you have a massive problem inherited

 

 

Sent from my iPhone using Arbtalk

 

True, Old (New) Labour didn't have our best interests at heart. The fact remains that the tories have done nothing to deal with said problem.

[dan494]

They spent less? What would you have done? Borrowed more?

 

Sent from my SM-G930F using Arbtalk mobile app

[Mark J]

They've tripled the debt. that's not spending less. They've given away ridiculous sums in tax breaks to their rich chums.

[Richard 1234]

They've tripled the debt. that's not spending less. They've given away ridiculous sums in tax breaks to their rich chums.

 

 

I don't know how true that chart on the last page is but it does not show debt tripling since 2010

 

Also if they had kept labours spending up how many times would the debt how gone up by now?

 

Sent from my iPhone using Arbtalk

[dan494]

I don't know how true that chart on the last page is but it does not show debt tripling since 2010

 

Also if they had kept labours spending up how many times would the debt how gone up by now?

 

Sent from my iPhone using Arbtalk

The chart it basically showing how much we're borrowing as a percentage of income. Every year we borrow more than we earn so the debt increases, so yeah it may well have tripled as none has been paid off. Until we earn more than we borrow and start making payments it can only increase. Borrowing more like labour wants would see us much further in debt

 

Sent from my SM-G930F using Arbtalk mobile app

[dan494]

It's like if you were earning 30k and your bills, mortgage, food etc came to 25k a year and all of a sudden you lost your job and got another earning 20k all of a sudden you're going 5k into debt each year, 5 years later youve got 25k to find just to pay back the money you spent. Tory's cut off the sky and downsized the car. Labour would have borrowed 10k instead of the 5k to buy a flashy car hoping it would get them a better job, but would now owe 50k, but then they were borrowing before they lost the job and already had 10k to pay back

 

Sent from my SM-G930F using Arbtalk mobile app

[Mark J]

Britain's ballooning national debt rose by £250million a day last year

 

Read more: Britain's national debt poised to hit £1.7trillion | This is Money

 

By March last year it had risen by £555Billion under the tories.

 

The UK national debt has risen by £555 billion since 2010 under George Osborne | The Independent

[matelot]

They've tripled the debt. that's not spending less. They've given away ridiculous sums in tax breaks to their rich chums.

 

The tories have also given hundreds of billions away in benefits...

 

IMHO, it's about time benefits were cut more for the work shy...