OP
Octopus
But a lot less than the Tories, they have increased the deficeit by an extra 500 billion in 5 years buffoon, so lets see your excuse for that.
See post 310
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But a lot less than the Tories, they have increased the deficeit by an extra 500 billion in 5 years buffoon, so lets see your excuse for that.
Because Ed Balls has REPEATEDLY said that the Coelition has cut too far, too fast, so by this he would have carried on borrowing MORE than the coelition than Labour would have.
Simples.
Not that simples, when the coalition came in the economy was growing. The austerity budget in the autumn plunged this country into recession so we had less tax collected.
This government has been borrowing to make up the shortfall as well as everything else that's been going on.
If we had a bigger economy and more tax revenue that goes with it plus less unemployment to pay for then borrowing would of been less.
Not simples.
I have seen it, I am still laughing at it.See post 310
Yup, because the Labour party were trying to keep it inflated by employing 250K new civil servants and spending money left, right and centre.
This situation was unsubstainable as they (as usual forgot) that excessive Public spending is not the way out of a dip......
so they could have borrowed £150 billion for 5 years and the national debt would have grown by £750 billion
When more than 50% of GDP is generated by public spending (which was 53% in 20009/2010) its never going to work
EDIT: And because the EU is also in a mess (and continues to be so) one of our biggest export areas is in, and continues to be in, the doledrums!
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