Shameless labour

Wookster

Government spending is not the magic panacea for all our woes. Repaying debt, rebuilding the private sector & becoming competitive on the world market are.

mbga9pgf

1984ReturnsForReal wrote: »

As opposed to the Tories who are going to tax the shirt on your back & then give that money to their mega rich school chums & continue giving it & give some more & then some more again.

Now, it may have escaped your notice but the economy is doing pretty much what Labour said. Like it or not.

It also may have escaped your notice that Labour also presided over one of the largest (if not the largest) periods of growth ever.


Thanks for the thread.

But do not go down the route of Osbourne knows what he is doiniug. He doesn't.

Seriously, go and take off the growth in national and personal debt of the gdp figures. You will see we would have been in recession from 2002 onwards. Some legacy left by labour.

Can you please explain, if there is no money, how are we supposed to spend it? Labours destruction of the economy paying local area bribes in the run up to the election was nothing short of a disgrace.

mbga9pgf

1984ReturnsForReal wrote: »

I am all for rebalancing peoples bank accounts. From the top first.

Typical politics of envy from those without the grit to earn it themselves.

melancholly

Wookster wrote: »

I am so sick of seeing ed ball on TV glibly blaming the Tories for all the nation's woes.

shock horror - opposition party blames current party for problems! or shock horror, politician takes a complicated issue and breaks it down into a simple black and white, one party is right, one party is wrong arguement.

seems no worse than the tories holding labour entirely responsible for the global crisis when they were in opposition. and it's the job of the opposition to object! whether or not they're actually right, well, that's our decision to make at the ballot box.

(although, as a general point, much as i hate osbourne, i can't stand the sight of ed balls on the tv, and that's before he's even said anything. winds me right up!)

angrypirate

dori2o wrote: »

You are aware that before the current Government started sqatting in No10, that the countrys economy was in growth growing by 1.1% in the first quater of they year, with the defecit decreasing faster than expected. Yet 9 months after Dave and Nick decided to cohabit, the defecit has risen, and the economy is now back in decline.

Make of it what you will.

200bn pounds printed, 160 billion borrowed in one year and all labour could manage was 1.1% growth? Thats a total of 360 billion pounds added to the economy by labour and the return is a lousey 1.1% growth. Surely that shows just how much of a bust labour got us in.

Oh and by the way, that 360 billion pounds that sooner or later will have to be removed from the economy.

DervProf

So, the country spent over a decade giving the credit card a bit of a hammering. The balance kept growing, the interest kept increasing. Eventually a fairly nasty letter dropped on the doormat.

So, the tories/lib dems said "enough of this, it's time to start paying back some of this debt, or at least reduce the spending on the credit card". No more "little treats", no more expensive foreign holidays or meals in expensive restaurants. Of course people are going to complain, and blame it on the new government. For labour to say that they could have solved this problem with little or no pain is absolute rubbish IMHO.

OK, the manner in which this government are tackling the problem is up for debate, but for labour to start blaming the government for slower or no econimic growth is ridiculous. Well, it isn't really, I suppose. If you stop maxing out the credit card, you're bound to see a big change in your lifestyle.

michaels

Laura - would you disagree that real wages fell for the 5th successive year in 2010? And can I ask if you remember which party was in power and which economic policies were followed for the first 4 and a half of those 5 years?

IronWolf

1984ReturnsForReal wrote: »

Now, it may have escaped your notice but the economy is doing pretty much what Labour said. Like it or not.

It also may have escaped your notice that Labour also presided over one of the largest (if not the largest) periods of growth ever.

Labour can't take credit for huge growth, particularly in financial services. If I remember correctly, it was the CONSERVATIVES who restructured the economy towards financial services, and transformed it from a stagnating farce into one of growth.

And look what happened when Labour got in charge, they just rode the FS industry, didnt care about how it was making its money "on paper" and the huge black holes that were hidden on balance sheets using flawed predictions.

As always, the Tories do things in the long term interest of the country, at the price of the present, and Labour just live in the now, and take credit for the long term Tory policies that pay off.

shortchanged_2

I think the tories biggest flaw was their doom and gloom message they portrayed before and after the election.
Yes this country was in a financial mess but so were a large proportion of the rest of the countries in the world. The UK was not on its own in all this mess.

All the tories managed to do was to instill a feeling of fear into most of the public thereby denting their confidence, resulting in people tightening their belts and not spending which is not what we need right now.

The UK will see a double dip recession this year.

Sir_Humphrey

Wookster wrote: »

Government spending is not the magic panacea for all our woes. Repaying debt, rebuilding the private sector & becoming competitive on the world market are.

Wookster.

I have pointed out time and again that govts paying down debt is always at the expense of individuals and the private sector as a matter of accounting - this is before any further economic effects.

If the govt is paying down debt, that makes it harder for individuals to do so.

If no-one else is spending, then govt spending is a panacea. The three things you mention in your second paragraph cannot be done simulataneously. You are guilty of doublethink.

It is very sad that it seems that the UK is going to learn this one the hard way.