From memory, the Conservatives always had to deal with recessions and busted economies whenever they were elected to replace a Labour government. Whenever Labour were re-elected, they always inherited a strong economy which they then pissed against the wall by giving away more than the country was able to earn! When the term" Boom and Bust" is mentioned-guess which half of that referred to Labour!

For the last 13 years they have been overborrowing as hard as they can go to make the economy appear good when it was really going down the tubes and we now have national debts which will take generations to repay!

Les

 

Les .... we paid off MORE debt than at anytime in our history under this Labour government.

Yes, we need to borrow now to escape the worldwide crisis .... nowt wrong with borrowing to save yourself!

 

Utter bullcrap, as usual.

If it were true, why on earth would Lying Labour ADMIT it's the worst it's EVER been?

 

Les:-

"After a period of financial restraint, National debt at a % of GDP fell to 29% of GDP by 2002. Then, national Debt as a % of GDP increased from 30% in 2002 to 37 % in 2007. This was despite the long period of economic expansion. It was primarily due to the governments decision to increase spending on health and education. There has also been a marked rise in social security spending.

Since 2008, National Debt has increased sharply because of:

Economics Recession (lower tax receipts, higher spending on unemployment benefits)
Financial bailout of Northern Rock, RBS and other banks.
Although 59% of GDP is alot it is worth bearing in mind, that other countries have a much bigger problem. Japan for example have a National debt of 194%, Italy is over 100%. The US national debt is close to 71% of GDP. [See other countries Debt]. Also the UK has had much higher National Debt. e.g. after the second world war it was over 150% of GDP"

The UK, under Labour, has done a fantastic job of economic management.

 

If Labour lie, then - by your OWN WORDS the truth is opposite to what they say .... if they say it's worse than it's ever been then it isn't as they are lieing ... which is it to be? Make your mind up time! Go on jump one way or another!

 

No, Pete, not debating sematics, YOU answer my question: WHY would they admit it?

 

Are they lieing or are they not?

Simple yes or no required ....

 

No answer then?

 

They are like most prolific liars, they lie when it suits, and best pleases them.

Not rocket science now is it.

 

I see you went to skool under lying labour as well

 

The only debt we paid off was the final instalment in 2006 of the debt owed to the USA from WW2.

They have overborrowed for the whole time they have been in power and wasted all that money by constructing a top heavy and useless beaurocracy which is largely where all that money went as well as being wasted on making it appear as though the economy was in good shape.

It is the same as using your plastic to keep on spending cash to buy all those luxuries you want now and conveniently forgetting that all the money has to be paid back eventually, together with all that interest!

How long will it take to repay up to £1.5 trillion of national debt plus the interest do you think Pete. Dont forget all the interest on the PFI deals as well! Do you think the GNP will produce enough to pay off the interest let alone the debt itself? There are some serious doubts about that. we are fast running short of British companies to earn it anyway.

How much inflation do you expect to be caused by the "Quantative Easing" or printing extra money that the country cannot back as well? That is the Zimbabwe way of course-look where they are! You need a wheelbarrow to carry the cash to the shops!

The chickens are on the last bit of the road to the roost Pete, as I warned you about nearly a couple of years ago! No point in hiding your head in the sand! brings too much disappointment in the end!

Les

 

I'm with Leslie on this one: and one of the truly sickening things is that NOT ONE company involved in manufacturing, which has gone to the wall during this recession, will reopen in the UK. Those jobs are gone forever.

What should those workers do? THEIR livelihoods were allowed to disappear, while we protected the banks and the European car industry