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Labour Ahead In Economy Poll -By 2% You Gov

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Comments

  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    StevieJ wrote: »
    Don't think so, I haven't got the figures to hand but it wouldn't surprise me if the current govt hadn't already added more to the debt pile than Labour did in 13 years, the worry is there is still two years to go icon9.gif
    It's quite hard to believe that's the case especially with the stuff that's written on here. Is that really true!?!?
  • smartn
    smartn Posts: 296 Forumite
    chucky wrote: »
    It's quite hard to believe that's the case especially with the stuff that's written on here. Is that really true!?!?

    Even if it were true surely it would have to be labours legacy to blame anyhow. You can't turn around the economy in a couple of years during a global downturn. I'm no fan of the conservatives but in terms of running the economy they are the best of a very bad bunch!
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    StevieJ wrote: »
    Don't think so, I haven't got the figures to hand but it wouldn't surprise me if the current govt hadn't already added more to the debt pile than Labour did in 13 years, the worry is there is still two years to go icon9.gif

    I love the way that politics clouds the reality.

    History with hindsight will write Browns fate.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    smartn wrote: »
    Even if it were true surely it would have to be labours legacy to blame anyhow. You can't turn around the economy in a couple of years during a global downturn. I'm no fan of the conservatives but in terms of running the economy they are the best of a very bad bunch!

    So external circumstances are OK as an excuse but only after April 2010 ;)
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    StevieJ wrote: »
    So external circumstances are OK as an excuse but only after April 2010 ;)

    Was Labours budget for 2010/11..........

    Government spend was already set.
  • chewmylegoff
    chewmylegoff Posts: 11,469 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    StevieJ wrote: »
    Don't think so, I haven't got the figures to hand but it wouldn't surprise me if the current govt hadn't already added more to the debt pile than Labour did in 13 years, the worry is there is still two years to go icon9.gif

    This is probably true, but whichever party won in 2010 was bound to do so. With a budget deficit of £150bn half of which was structural, even the Tories "too far too fast" policy of eradicating the structural deficit within one parliament would have resulted in new borrowing of around £550 billion assuming straight line reduction of the structural deficit and little meaningful reduction of the cyclical deficit over the same period.

    As a result of a combination of the public spending plans enacted by the last govt and the global economic conditions, the only way any government could have possibly governed between 2010 to 2015 without adding more government debt than labour added 1997 to 2010 would have been to decimate the economy by radically reducing public spending and defaulting on contractual spending requirements. You don't have to borrow if you aren't spending...I don't think any government that had tried to do that would have lasted long.
  • prowla
    prowla Posts: 14,177 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    smartn wrote: »
    I'm no fan of the conservatives but in terms of running the economy they are the best of a very bad bunch!
    My feelings precisely.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    N1AK wrote: »
    The problem for the conservatives is even more complex than that. If they actually believe that the current plan is still the best course of action then changing chancellor wouldn't stop the criticism. It would only make sense to change chancellor if they want to do a u-turn about austerity so the new guy could draw a proper line under it.

    Suggesting its down to one person is somewhat harsh. While media presence may not be great. Ability to deliver is what matters. So I believe that he's thick skinned enough to shrug off the flack, and get on with the job.

    No one liked Churchill but he made a great war time PM.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    This is probably true, but whichever party won in 2010 was bound to do so.

    Just the same as whichever party had won in 2005 would have been hit by the GFC maelstrom icon9.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    Thrugelmir wrote: »
    I love the way that politics clouds the reality.

    History with hindsight will write Browns fate.
    Brilliant, absolutely priceless. Contradict yourself within a couple posts full of soundbites once someone criticises one of the beloved Tories. Brilliant.
    Thrugelmir wrote: »
    Suggesting its down to one person is somewhat harsh. While media presence may not be great. Ability to deliver is what matters. So I believe that he's thick skinned enough to shrug off the flack, and get on with the job.
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