Making the news today....

[Commando]

[dan494]

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Spot on! Would be interesting to see what state the economy would be in now if had a Tory government in the 2000's

 

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[dan494]

Desperate last day of polling 😉

 

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[Saw-sick Steve]

A few more of those akward facts for the Tory fanbois to ignore;

 

Next time someone says 'Money Tree' send them this - The London Economic

''The narrative that Labour can’t be trusted with the economy has taken hold to such an extent that they have fully costed their manifesto. And whilst there are no costings in the Conservative manifesto, the mud sticks to Labour.

 

So, it’s worth noting that public spending as a percentage of GDP was lower under the last Labour Government (37 per cent) than it was under Thatcher (40 per cent), John Major (38 per cent), or the current Tory government (42 per cent).

 

In fact, after a decade in power, the last Labour government had cut the deficit and cut the national debt making it the most prudent Government in modern times.''

[Richard 1234]

A few more of those akward facts for the Tory fanbois to ignore;

 

 

 

Next time someone says 'Money Tree' send them this - The London Economic

 

''The narrative that Labour can’t be trusted with the economy has taken hold to such an extent that they have fully costed their manifesto. And whilst there are no costings in the Conservative manifesto, the mud sticks to Labour.

 

 

 

So, it’s worth noting that public spending as a percentage of GDP was lower under the last Labour Government (37 per cent) than it was under Thatcher (40 per cent), John Major (38 per cent), or the current Tory government (42 per cent).

 

 

 

In fact, after a decade in power, the last Labour government had cut the deficit and cut the national debt making it the most prudent Government in modern times.''

 

 

This is why the figures are difficult to use properly as you can twist them to say what you want!

 

They may well have spent more of GDP but the economy was knackered when they came to power so they have had less income to play with.

 

 

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[dan494]

A few more of those akward facts for the Tory fanbois to ignore;

 

Next time someone says 'Money Tree' send them this - The London Economic

''The narrative that Labour can’t be trusted with the economy has taken hold to such an extent that they have fully costed their manifesto. And whilst there are no costings in the Conservative manifesto, the mud sticks to Labour.

 

So, it’s worth noting that public spending as a percentage of GDP was lower under the last Labour Government (37 per cent) than it was under Thatcher (40 per cent), John Major (38 per cent), or the current Tory government (42 per cent).

 

In fact, after a decade in power, the last Labour government had cut the deficit and cut the national debt making it the most prudent Government in modern times.''

 

What do you mean they cut the deficit? there wasn't one when gordon brown got his grubby hands on the fiances, he raided the pensions and increased borrowing to go on a spending spree, changed his own rules on borrowing to get hold of more money and created a deficit long before the recession!! If that had never happened just maybe there would be cash in the bank to have seen us through the crash without cutting all the services??

[kevinjohnsonmbe]

A few more of those akward facts for the Tory fanbois to ignore;

 

 

 

Next time someone says 'Money Tree' send them this - The London Economic

 

''The narrative that Labour can’t be trusted with the economy has taken hold to such an extent that they have fully costed their manifesto. And whilst there are no costings in the Conservative manifesto, the mud sticks to Labour.

 

 

 

So, it’s worth noting that public spending as a percentage of GDP was lower under the last Labour Government (37 per cent) than it was under Thatcher (40 per cent), John Major (38 per cent), or the current Tory government (42 per cent).

 

 

 

In fact, after a decade in power, the last Labour government had cut the deficit and cut the national debt making it the most prudent Government in modern times.''

 

 

Brilliant - a Labour enthusiast debunking the theory that Labour are the financial guardians of the public sector....

 

A fully costed manifesto" - that REALLY is a joke.

 

It's costed against ASSUMPTIONS of economic activity.

 

When the assumptions are exposed as unfounded, the costings become nonsensical.

[Saw-sick Steve]

What do you mean they cut the deficit? there wasn't one when gordon brown got his grubby hands on the fiances, he raided the pensions and increased borrowing to go on a spending spree, changed his own rules on borrowing to get hold of more money and created a deficit long before the recession!! If that had never happened just maybe there would be cash in the bank to have seen us through the crash without cutting all the services??

I think you need to have a good look at your graph again, and have a rethink. According to that, when Brown became chancellor in '97, he inherited a deficit from the Tories which he turned into a surplus for the next 4 years - far better than Howe, Lawson,Lamont and Clarke did, ALL of who ran a deficit. In fact, again, according to your graph, Major was the only Tory chancellor to run a small surplus. Brown then went on to run a deficit - still lower than Lamont and Clarke did, though - until 2008, and what happened then? A GLOBAL financial crisis caused by the financial sector - the same sector that Cameron and Osborne thought Labour were OVER regulating.

[Saw-sick Steve]

Brilliant - a Labour enthusiast debunking the theory that Labour are the financial guardians of the public sector....

 

A fully costed manifesto" - that REALLY is a joke.

 

It's costed against ASSUMPTIONS of economic activity.

 

When the assumptions are exposed as unfounded, the costings become nonsensical.

So, what you're saying is that any fiscal predictions and economic models are pointless, as they all make assumptions, therefore it's perfectly acceptable for the Tories to have a manifesto that's totally uncosted? Er, OK....

[dan494]

Was there not a recession in the early 90's and the early 80's? Id imagine that would cause a deficit to any government, but why go into debt while there's a period of growth and there's a surplus for once? (of course it was going to last forever wasn't it!)