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Do you think we could have avoided recession if the Tories were in power?

Reaper
Posts: 7,340 Forumite


This board seems incredibly negative towards Labour, with the vocal members putting all the blame at Brown's door for letting things get out of hand. Too much "light touch regulation" and all that.
But do you guys really think it would have been any different if the Conservatives had been in power? Let's see what the Tory view of the FSA was.
Well in 2004 the shadow chancellor announced they would scrap the FSA because it was concerned by "the intrusive regulatory regime".
Since the crisis started the Tory solutions have been populist and ludicrous, like removing tax on savings.
My view is both parties would have made the same mistakes and got us into this mess but of the two Brown has come up with better solutions. Would those who endlessly recycle the same anti-Brown mantra please explain why you disagree.
(Incidentally I'm a floating voter who votes for the party I think best at each election, I'm not wedded to one or the other)
But do you guys really think it would have been any different if the Conservatives had been in power? Let's see what the Tory view of the FSA was.
Well in 2004 the shadow chancellor announced they would scrap the FSA because it was concerned by "the intrusive regulatory regime".
The FSA proved to be not intrusive enough but think what things would have been like if the Tory's had been in power.The current legal structure is causing the FSA as a matter of duty to over-regulate. The regime that has been set up in exactly the way you would expect this Government to set it up; that's to say on a very intrusive basis
Since the crisis started the Tory solutions have been populist and ludicrous, like removing tax on savings.
My view is both parties would have made the same mistakes and got us into this mess but of the two Brown has come up with better solutions. Would those who endlessly recycle the same anti-Brown mantra please explain why you disagree.
(Incidentally I'm a floating voter who votes for the party I think best at each election, I'm not wedded to one or the other)
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I think the situation would have been much the same to be honest, as the current Labour government are simply carrying on with many of the free market type policies put in place by the previous Conservative one.0
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No it is a world wide recession. (No I am not a labour supporter)
As far as I understand Clintons policies had more to do with it than anything else.0 -
The recession is nothing to do with Labour or the Tories. We live in a global environment and it is a global recession - the idea of either party in a tiny country like ours making any fundamental difference is akin to Canute believing he could stop the tide coming in.
No parties messed up to get us in this mess. No party can solve it. They can tinker around the edges and either worsen or alleviate local conditions, but domestic politics has been irrelevant for decades.0 -
No, we couldnt not have avoided the recession if the tories were in power.
I don't believe anyone has or is saying that, at least I have never seen such assumptions.
I do believe however we would be in a better position if the tories were in power, mainly because I think, based on the past, we would have more money in the kitty to enable us to spend, but without the massive debt burden the labour spending is currently creating.
There would still be debt yes. But I don't believe it would be on such an eye watering scale.
So far in this recession, Vince Cable has been pretty much spot on every time. The tories, although called the do nothing party, have opposed moves such the VAT reduction, calling it a waste of money that wouldnt do anything. They were right.
They also said on the first bailout of the banks, more needs to be done, this does not go far enough and will only need more. They were right.
Kenneth Clarke, once taken back on, stated this looks more like a depression, and we werent technically in recession then, he looks to be right.0 -
We'd have a recession either way. The real question is would the recession have been more or less severe under the Tories?
I my view they might have reguated the city even less, but I guess the public coffers would be in better shape leaving more room for tax cuts and other economic stimuli.0 -
You can't assume what a policy would do in Government by what they say in opposition.
FWIW, I think the Tories would have had a similar looking banking system in January 2007 to the one that Labour had. The big difference would most likely be the fiscal position - I doubt that the Tories would have expanded public sector employment and spending in the way Labour have.0 -
JayScottGreenspan wrote: »I my view they might have reguated the city even less, but I guess the public coffers would be in better shape leaving more room for tax cuts and other economic stimuli.
That is not an unreasonable assumption, though no one will ever know. Its a real pity Vince Cable won't ever be Chancellor - he is one of the only people, with enhanced credibility.
We still haven't seen any significant Tory policy proposals at all, aside of looking like he's been squeezed out of a toothpaste bottle, Cameron and what he stands for is still a mystery.0 -
We still haven't seen any significant Tory policy proposals at all, aside of looking like he's been squeezed out of a toothpaste bottle, Cameron and what he stands for is still a mystery.
It's modern politics. No point in putting a hostage to fortune out there. Only announce policies when you have to when in opposition.0 -
Generali & JayScott Greenspan say what I think (perhaps because I'm influenced by them?).
Under a tory government: with 'decreased expansion' of public expenditure (...is that like negative growth?!)that I'm not going to guess too much about, it is possible that personally my own bank balance might have looked a bit more recession proof and that on a very personal basis, things like married couples allowances might have been (re)introduced.0 -
Its a real pity Vince Cable won't ever be Chancellor - he is one of the only people, with enhanced credibility.
Seems like an intelligent bloke, and more interested in what's best for the country than what's best for him. A very rare thing, that.0
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