Surrey Phil
Well-known member
- Aug 3, 2010
- 1,531
It’s very convenient to blame a party for debt’s but the raw facts are, that we have just had a once in a lifetime pandemic, which cost all countries.Another way of looking at this is to turn back to 1945. As with the 2024 iteration, the government were confronted with massive debt left by the previous administration. We can forgive it though because government debt was at 250% of GDP. And yet the best government this country has ever had went on a spending spree, buying up utilities, providing the safety net via the welfare state, and nationalising healthcare to produce the cherished NHS.
This led to a high growth regime and rising real wages for workers which led to the fall of national debt such that it fell below 100% of GDP by the 1960s. If you've been paying attention, government debt has recently surpassed that figure -- and that's pretty much thanks to the Tories inability to run the economy, and all their nonsense about austerity, Brexit, hostility to planning, etc.
And still they pipe on about how they are the party to trust with the economy. If there weren't so many that believed that steaming pile of it'd be laughable.