Labour goes back to its roots.

Rochdale_Pioneers

mewbie wrote: »

Yes. Because he didn't fix the roof while the sun was shining.

How would you define "fixing the roof". Specifically.

JayScottGreenspan

Rochdale_Pioneers wrote: »

How would you define "fixing the roof". Specifically.

In the near future government debt will be £1 trillion. And that's only if you believe Gordo/Darling/Cooper's miracle recovery with dot-com-boom-like-growth in 2011.

I dunno what interest rates will be at that stage, but the interest bill alone on this will probably be ~£50bn. Total annual council tax receipts are about £25bn, I believe.

If we'd had a government half as intelligent as the average bear, we might be able to abolish council tax, or reduce PAYE for the poor. Every £ we borrow is extra tax or public service cuts in the future to pay the interest.

How d'ya like them apples?

Rochdale_Pioneers

"Didn't fix the roof". Give me specifics as to (a) what Brown did you disagree with and (b) what he should have done. I want numbers people - you can't just keep spouting slogans. I know what the levels of debt were, I want to know if the frothers do.

Wookster

Rochdale_Pioneers wrote: »

"Didn't fix the roof". Give me specifics as to (a) what Brown did you disagree with and (b) what he should have done. I want numbers people - you can't just keep spouting slogans. I know what the levels of debt were, I want to know if the frothers do.

Run significant deficits from 2000, based on tax receipts from fickle and unstable sources such as tax revenue from financial services.

Rochdale_Pioneers wrote: »

So we end up with 79% debt - so what? Will the sky fall in?

This is the destructive attitude. This reckless, fec kless attitude towards borrowing. It will make us bankrupt. Just like Ireland, just like Iceland.

Wake up and smell the coffee!

JayScottGreenspan

"Didn't fix the roof"

=

Racked up massive debt during a boom. About to rack up even more debt durng the bust. Every household faces having to pay an extra ~200% of their council tax bill just to pay the interest. Forever.

tomstickland

Rochdale_Pioneers wrote: »

We certainly know that the Tories are going back to their roots. "The age of Austerity" they promise, and if you work in the public sectro and face a pay freeze and the evisceration of your pension, or claim any benefits, or use Sure Start then they have a point.

Didn't Darling's fantasy budget include cuts from 2010 onwards?
Are you trying to scare people about the "nasty party"?

Do you seriously believe that Labour will continue to spend money that doesn't exist, all because they aren't nasty?

tomstickland

Rochdale_Pioneers wrote: »

we have comparitively low debt vs the few countries with bigger economies than ours, and get on with the job of running the country. Yes we need to reduce it, but it can be done gradually until things pick up enough to run the kind of big budget surplus we had in 88-90 and 95-01.

Debt at 80% of GDP is forecast, and that's with the "optimstic" made up numbers.

Rochdale_Pioneers

JayScottGreenspan wrote: »

"Didn't fix the roof"

=

Racked up massive debt during a boom.

I wanted figures. Please give me Net debt as a percentage of GDP. Lets have 1997 when they took over, 2001 when they started spending, and 2007 when the crash started. I wanted numbers, not slogans like "massive".

Come on you lot, I know the numbers, do you? "The boom" ran from what, 1995? So how much did debt increase "massive"ly during the boom?

bendix

will you two get a room please. you're making everyone else blush at the politico-economic sexual tension between you both.

Graham_Devon

Rochdale_Pioneers wrote: »

I did answer - increased tax revenues from economic growth. The same way that every other government pays for things. You think we'll be in recession for ever and ever with no prospect of tax receipts increasing?

We WOULD be in recession for ages if you stung growth to pay for the losses.

Labour has been taxing growth for how long now? And this has got us where?

As for didnt fix the roof while the sun was shining, this also includes legislation. Gordon created the most de-regulised financial industry we have known for god knows how long.