Gdp Doom

[Cyberman]

Look at some of the numbers under Heath and the early years of the Thatcher government then adjust them for inflation. Point is if we had had a Tory governemnt in recent years we'd be nearly as fsked.

Carry on believing that if it it makes you feel better, but I blame all you Labour voters for this mess.

[Cyberman]

Why?

[ASB]

Then look at what they were lumbered with in terms of an economy. New Labour inherited an economy that was doing well. They even stuck to the Tories plans for the first 2 years.

True. But look at the borrowing requirements in the last recession. They were not as bad as they are now - but not that far off.

It would be interesting to see where we were had we had a tory government. I suspect things would be nearly as bleak.

[ASB]

Carry on believing that if it it makes you feel better, but I blame all you Labour voters for this mess.

And what makes you think I'm a Labour voter?

[ThomasSoerensen]

Why?

Because evidently the market has not realized the full impact yet. Once they realize the full doom - they will flee to USD, EUR, YEN.

GBP is already bent over, lube has been applied, eyes are shut - it is just a matter of minutes before the big Chinese and Middle East "friends" take turns on going Mid-evil on it.

[AtW]

GBP is already bent over, lube has been applied, eyes are shut - it is just a matter of minutes before the big Chinese and Middle East "friends" take turns on going Mid-evil on it.

Nu Liebor already done it

[Cyberman]

And what makes you think I'm a Labour voter?

Perhaps by the fact that you try to compare the biggest borrowing and National Debt since the Second World War with anything the Tories 'achieved'. There simply is no comparison. The Tories took a hammering for losing 7 Billion pounds due to the ERM fiasco, but Labour lost 97 Billion pounds last year and will lose 175 Billion pounds this coming year.

[suityou01]

Because evidently the market has not realized the full impact yet. Once they realize the full doom - they will flee to USD, EUR, YEN.

GBP is already bent over, lube has been applied, eyes are shut - it is just a matter of minutes before the big Chinese and Middle East "friends" take turns on going Mid-evil on it.

Coffed splutteringly good response. LMFTO.

[ASB]

Perhaps by the fact that you try to compare the biggest borrowing and National Debt since the Second World War with anything the Tories 'achieved'. There simply is no comparison. The Tories took a hammering for losing 7 Billion pounds due to the ERM fiasco, but Labour lost 97 Billion pounds last year and will lose 175 Billion pounds this coming year.

So, because I make a comparison which you think is invalid I must be a labour voter. Interesting logic.

Recent borrowing peaked in 1993/4 under John Major. This was at 7.7 per cent of GDP and lead to savage spending cuts and tax rises.

Last year 2008/9 it was at 6.2 per cent of GDP.

What will it be for 2009/10? We don't actually know yet but all the indications are that it will surpass the 1993/4 peak.

[BoredBloke]

Perhaps by the fact that you try to compare the biggest borrowing and National Debt since the Second World War with anything the Tories 'achieved'. There simply is no comparison. The Tories took a hammering for losing 7 Billion pounds due to the ERM fiasco, but Labour lost 97 Billion pounds last year and will lose 175 Billion pounds this coming year.

Did they really lose 7 billion? I thought their actions were to go out and buy lots sterling to prop it up (i could be wrong). So the day after the ERM stuff happened there was a big loss as the sterling they bought wasn't worth what they pad for it. However it wasn't worth nothing and as time went on and it's value returned it meant that the loss was a hell of a lot less than the huge number often quoted by Labour. I doubt they lost less than the new Labour Chancellor who sold off our gold reserves at the bottom of the market and told everybody what he was about to do - dropping the market still further. What was his name again?

As for if things would have been different if the Tories were in power - yes I agree that there would probably have been a debt bubble but I don't think we'd be saddled with such a bloated public sector as we have now.