Did Brown/Blair borrow too much?

[joe-90]

Did they borrow too much between 1997 and 2010. Well did they? I bet you said yes. Well here's something I heard on the radio today. Between 2010 and 2015, George Osbourne borrowed more than every Labour government in history - COMBINED.

We're in deep poo. No doubt about it. No civilisation in the history of the world has got out of the mess we are in.

 

[Norcon]

George is a debt addict along with the entire western world.

The knock on effect of what labour did though will still be accumulating.
No government can control it.

If the military and the nhs were abolished for a few years we might get on top of it.

Or sell Scotland to the French for a knock down price of £1.5 trillion.
That'll teach em.

 

[JBR]

I have a definitive answer to your question, Joe, but refuse to disclose it until you either provide evidence of what you accused me of in this thread (he can't):

//www.diynot.com/diy/threads/oh-dear.433974/page-2#3383216

or big up and offer an apology (he won't).

 

[joe-90]

I don't need to prove whether you said you voted against AV - just tell us here and now. (he won't).

 

[Dextraneous]

Did they borrow too much between 1997 and 2010. Well did they? I bet you said yes. Well here's something I heard on the radio today. Between 2010 and 2015, George Osbourne borrowed more than every Labour government in history - COMBINED.

Please provide a link or at least tell us which radio channel, program and approximate time

 

[Brigadier]

Somewhat misleading stat, given the decreasing value of money.
£2k in 1970 was a decent new house. Nowadays, it's a decent new push bike........

 

[JBR]

Did they borrow too much between 1997 and 2010. Well did they? I bet you said yes. Well here's something I heard on the radio today. Between 2010 and 2015, George Osbourne borrowed more than every Labour government in history - COMBINED.

Please provide a link or at least tell us which radio channel, program and approximate time

He doesn't back up his claims. He can't.

He's in trolling mode just at the moment.

 

[joe-90]

It was James O'Brien on LBC at about 11.30 yesterday morning.

Our national debt increased from 750 billion to 1.5 trillion under Osbourne. We pay around £50 billion in interest every year - and rising.

 

[Micilin]

There were two big reasons for spending a lot of money


1: bank collapse - partly due to deregulation, part due to world collapse.
Tories would have done the same as Labour.not sure what UKIP would have done as they were a nonentity at the time

2 : military actions in Iraq. All parties were in favour of this IIRC apart from the LibDems


There is a graph here on the mess the Labour had to clean up after the Tories, which is rarely mentioned whether you agree with the commentary or not, the point is that the figures are there to see.

https://skwalker1964.wordpress.com/2012/05/23/the-myth-of-the-inherited-mess-52/

 

[Brigadier]

It was James O'Brien on LBC at about 11.30 yesterday morning.

Our national debt increased from 750 billion to 1.5 trillion under Osbourne. We pay around £50 billion in interest every year - and rising.

So, are you supporting the Labour Way then, Joe?

 

[Corgigrouch]

So who do we owe it to? Which country is in surplus? and how much have we lent that is owed to us?.....It's all a big game of virtual money and it only works if we believe it...

 

[longdogs]

Did they borrow too much between 1997 and 2010. Well did they? I bet you said yes. Well here's something I heard on the radio today. Between 2010 and 2015, George Osbourne borrowed more than every Labour government in history - COMBINED.

We're in deep poo. No doubt about it. No civilisation in the history of the world has got out of the mess we are in.

Don't know about Blair & Brown but I did.

 

[jeds]

It was James O'Brien on LBC at about 11.30 yesterday morning.

Our national debt increased from 750 billion to 1.5 trillion under Osbourne. We pay around £50 billion in interest every year - and rising.

It wasn't what Labour spent - it was what they committed us to spending at a time when we were unable to pay any of it back. Blair and Brown went on an orgy of spending under schemes know as Private Finance Initiatives. (PFIs) This is where private companies build major projects like schools, hospitals, roads, bridges, etc. on an agreement to pay later. The rates Blair and Brown signed up to are absolutely extortionate and will be costing us billions for many years to come. It made it look like we were doing loads of stuff and them look good at the time without actually having to spend much money, but the legacy will cripple us for 25 to 30 years at least.

Oh, and by the way, the companies that we are now paying these extortionate payments to aren't British companies, they are mostly foreign. French, Italian, German, etc.

Oh, and by the way, it's still going on with the Tories. Not as many and with better rates but still going on.

And this doesn't even get into the increases in public spending, welfare and handouts orchestrated by Blair and Brown to keep their loyal voters quiet.

 

[Brigadier]

Or the wars that we're going to be paying for, for decades to come......

 

[joe-90]

The bottom line is that Osbourne is a credit junkie. He's added £75,000,000,000 to our national debt whilst in office. The Tories are clueless.