So the Tories didn't "snuff out" the recovery in 2010

Voyager2002

Voyager2002 wrote: »

No. The point was that recovery could (and should) have come much earlier than this.

And if we really were 'back to normal' then why would Austerity be necessary?

Some key points from the linked article:

"after the latest revisions GDP is 13.4% below where it would have been had its pre-crisis trend continued. Previously, the gap was 14.7%."

"stronger growth should have led to more rapid deficit reduction. The fact that it did not is a concern."

All of which should demonstrate that the UK economy has not been competently managed. People on this thread debate whether or not Corbyn could do a better job: I would suggest that it is just not possible for him to do any worse.

Mistermeaner

oh dear. I despair at democracy sometimes.

Draconian maybe but breeding and voting should be IQ tested for the good of everyone

CLAPTON

Voyager2002 wrote: »

Some key points from the linked article:

"after the latest revisions GDP is 13.4% below where it would have been had its pre-crisis trend continued. Previously, the gap was 14.7%."

"stronger growth should have led to more rapid deficit reduction. The fact that it did not is a concern."

All of which should demonstrate that the UK economy has not been competently managed. People on this thread debate whether or not Corbyn could do a better job: I would suggest that it is just not possible for him to do any worse.

There was a world wide recession which was NOT caused by the UK

The UK has done very well compared with many other countries.

Corbyn could easily make the country a little like greece

michaels

Voyager2002 wrote: »

Some key points from the linked article:

"after the latest revisions GDP is 13.4% below where it would have been had its pre-crisis trend continued. Previously, the gap was 14.7%."

"stronger growth should have led to more rapid deficit reduction. The fact that it did not is a concern."

I agree it is a cause for concern, it demonstrates that the fiscal position is worse than anticipated (even more of the shortfall is due to misguided fiscal policy rather than 'automatic stabilsers') and therefore that not enough austerity has been imposed. The root causes are almost certainly excessive tax cuts to the lowest paid via the rapid increases in the personal allowance, the tripple lock on pensions and the ring-fencing of govt expenditure on health and education.

michaels

CLAPTON wrote: »

Corbyn could easily make the country a little like greece

Are we talking retirement at 50, warm sunshine, amazing beaches and optional taxation?

CLAPTON

michaels wrote: »

Are we talking retirement at 50, warm sunshine, amazing beaches and optional taxation?

could be a vote winner

and Corbyn and Yanis Varoufakis were great mates (used to sing IRA rebel songs together in the old revolutionary days), so plenty of Greek advice available

michaels

CLAPTON wrote: »

could be a vote winner

and Corbyn and Yanis Varoufakis were great mates (used to sing IRA rebel songs together in the old revolutionary days), so plenty of Greek advice available

Although I can see that if JC were the prime minister then rule from Berlin and Brussels, as happens in Greece, might be the better option.

mwpt

Voyager2002 wrote: »

All of which should demonstrate that the UK economy has not been competently managed. People on this thread debate whether or not Corbyn could do a better job: I would suggest that it is just not possible for him to do any worse.

You clearly believe in borrowing to "grow". Greece just tried that, they borrowed, and borrowed, and borrowed. Sure, they "grew" their economy but look what happens when the market starts to think it is unsustainable. Borrowing costs increase and suddenly all that "growth" disappears as austerity is forced (no, it isn't a choice) on them. Lefties then claim austerity caused the retraction. No, the retraction is simply revealing the real state of the economy without infinite borrowing.

To the topic, the UK can borrow cheaply because the market still has confidence in it. I propose that a man like Corbyn could wreck our borrowing costs, our interest payments would go up, and we'd be in a worse position than we are.

oatman

michaels wrote: »

Are we talking retirement at 50, warm sunshine, amazing beaches and optional taxation?

I think the word you're looking for is corruption.