I thought we'd settled this. Yes, debt has gone up but only because the QE money is shown in that particular 'column' and as we established, that part of the debt doesn't have to be paid back because it's 'magic money'.
Tories don't need a magic money tree!
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I thought we'd settled this. Yes, debt has gone up but only because the QE money is shown in that particular 'column' and as we established, that part of the debt doesn't have to be paid back because it's 'magic money'.
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That Labour couldn't run a bath, let alone an economy, is older than you or I.
So , tell me, if it has no legs and is (in your opinion) so easily debunked, why is it still such a widely - held view?
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What view? What are you talking about? Debt, qe?
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"That Labour cannot run an economy."
Labour's single biggest Achilles heel, at every GE.
If it's so easily debunked, why has it not been for forty - plus years, to my knowledge?
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and yet the economy was in a pretty good state before the global economic disaster struck in 2007/8. Most countries suffered.
Countries that didn't have austerity inflicted on them recovered. If anything, it's the tories who cannot run the economy.
there are plenty of old wives tales -the length of time in existence isnt really an argument for being correct.
I think it has more to do with the UKs 2 party system - the arguments are broken down into simplistic tropes and that is where we all naturally default.
look at the discussions on this forum: If anybody mentions being supportive of any of Labours policies, that person is automatically branded a 'snowflake socialist'.
If I say not everybody is a benefit scrounger, I am then accused of denying it exists at all and must be naive.
The Tories cynically use neo liberalism as an ideological cover for flogging stuff off for their mates to get rich from the deals.
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So I asked filly to defend his point re debt and that somehow means I need to justify labour time in office.
Whatabotery indeed.
When you say they cannot run an economy - be specific? GDP growth? Debt. Unemployment?
Just because many people believe something doesn't make it true - look at the number of flat earthers - it's a weak argument.
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I can see how the free money for almost everyone is attractive, but the borrowed money is just loading the next generation up with massive debts. We are already subsidising the 'boomer generation who did not contribute anything like the amount needed to prop up their defined benefits pensions which is burning companies and therefore consumers, are we to expect the next generation to do the same for us?
The state needs to be sized within the country's means. Sometimes you can stimulate growth through investment but these spending plans are eye watering. They will bankrupt the UK.
The state needs to be sized within the country's means. Sometimes you can stimulate growth through investment but these spending plans are eye watering. They will bankrupt the UK.
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Data from the Office for National Statistics below shows the percentages of National Debt (excluding public sector banks) to GDP at each date of each general election dates.
Labour: 1945 (243.8%) to 1951 (178.3%)
Conservative: 1951 (178.3%) to 1955 (139.3%) to 1959 (112.5%) to 1964 (88.9%)
Labour: 1964 (88.9%) to 1966 (80.8%) to 1970 (59.5%)
Conservative: 1970 (59.5%) to 1974 (57.0%)
Labour: 1974 (57.0%) to 1979 (45.1%)
Conservative: 1979 (45.1%) to 1983 (41.5%) to 1987 (34.3%) to 1992 (28.1%) to 1997 (38.4%)
Labour: 1997 (38.4%) to 2001 (29.1%) to 2005 (35.4%) to 2010 (71.7%)
Conservative/LibDem: 2010 (71.7%) to 2015 (84.9%)
Conservative: 2015 (84.9%) to 2017 (86.1%)
Debt ratio has increased for 3 conservative governments and 2 labour governments - the most recent the financial crisis in 2008-10.
Labour: 1945 (243.8%) to 1951 (178.3%)
Conservative: 1951 (178.3%) to 1955 (139.3%) to 1959 (112.5%) to 1964 (88.9%)
Labour: 1964 (88.9%) to 1966 (80.8%) to 1970 (59.5%)
Conservative: 1970 (59.5%) to 1974 (57.0%)
Labour: 1974 (57.0%) to 1979 (45.1%)
Conservative: 1979 (45.1%) to 1983 (41.5%) to 1987 (34.3%) to 1992 (28.1%) to 1997 (38.4%)
Labour: 1997 (38.4%) to 2001 (29.1%) to 2005 (35.4%) to 2010 (71.7%)
Conservative/LibDem: 2010 (71.7%) to 2015 (84.9%)
Conservative: 2015 (84.9%) to 2017 (86.1%)
Debt ratio has increased for 3 conservative governments and 2 labour governments - the most recent the financial crisis in 2008-10.
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