Ed Balls again

[Bunk]

I'm not a Labour supporter. However, I can look at a graph and see that the Labour borrowing was significantly less than Sir John's government.

The first thing that Brown did as chancellor was to pay off the debt from the Major government.

The deficit was already shrinking under Clarke. Brown just inherited that. The real question is why, after running a surplus for a few years, did Brown plunge us back into massive borrowing 5 years before the banking crisis. If he hadn't done that we might have been able to absorb the massive losses without bankrupting the country.

[Mich the Tester]

The deficit was already shrinking under Clarke. Brown just inherited that. The real question is why, after running a surplus for a few years, did Brown plunge us back into massive borrowing 5 years before the banking crisis. If he hadn't done that we might have been able to absorb the massive losses without bankrupting the country.

Perhaps the invasion of Afghanistan and Iraq accounts for some of it? And the massive 'security' spending since '9/11'.

I could understand the US going into Afghanistan, but Iraq was a different matter, and I actually suspect Tony B Liar talked Bush into that, not the other way around seeing as Bush couldn´t even tie his own shoelaces.

[minestrone]

The 2 wars cost 20 billion, really not that much.

Public sector employment was the killer.

[Mich the Tester]

The 2 wars cost 20 billion, really not that much.

Public sector employment was the killer.

No excuse then really.

[saptastic]

The 2 wars cost 20 billion, really not that much.

Public sector employment was the killer.

and dont forget the welfare bill soared.
I think total housing benefit doubled under Labour.

[minestrone]

No excuse then really.

Especially with taxing the divs on pensions and the telecoms auction (which probably caused the telecoms crash ), the afore mentioned selling off the gold which all brought in billions

[AtW]

and dont forget the welfare bill soared.
I think total housing benefit doubled under Labour.

Well, house prices and rents gone up big time, so there should be no suprises that housing benefit doubled.

[Mich the Tester]

Well, house prices and rents gone up big time, so there should be no suprises that housing benefit doubled.

So as a response to demand pushing up prices, Labour stoked demand.

[minestrone]

The biggest mistake labour made was to let house prices go up so much compared to the average wage. Now nearly everyone needs in work benefits, nobody can save for a pension and everyone is fooked trying to pay off the debt with the bank for their entire working life.

[saptastic]

Well, house prices and rents gone up big time, so there should be no suprises that housing benefit doubled.

Part of the reason rents are growing so much now is the number of people with housing benefit to spend in London.
Its a Landlords paradise.