Barrel of Fun
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I was pontificating, whatever than means.
Do you have evidence for those claims?
Labours reckless spending in the last few months in office...
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I was pontificating, whatever than means.
Do you have evidence for those claims?
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,019
what lies would that be? other than the story today of Labour ministers trying to push though every spending scheme they could (which came from civil servants not Tories or Liberals), and the upcoming leadership election, i havnt heard anything about Labour. its refreashing to hear government talking about what they will or wish to do, rather than what they think the other lot would do or did. one might say thats progressive politics.
de la zouch
Well-known member
- Jul 12, 2007
- 572
Are you thick or just retarded. The economy was in a fine state back in 97, and the one eyed Scot managed to spend the lot, sell the gold and then become the worst PM in living history.
Well done!
That article is over one year old.
This is an article that is about two weeks old and was printed on the day of election.
Shows just what thirteen years of Labour management of the economy does for us!
The initial comments about the dire state about the UK economy are also made by the EU and their representatives (not a Con or Lib), just so that you know it is not just people whom you perceive to be biased can see what an unbelievably bad job Labour have done for us all. It is time to wake up and see what they have done, they have bancrupted us all for years and years.
UK budget deficit 'to surpass Greece's as worst in EU' | Business | The Guardian
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Just as I thought. The article you refer to does not qualify your statement that ours was the deepest recession of all the major economies. Correct me if I'm wrong but a recession is when your GDP is reduced for two consecutive quarters. The measure of the recession is by how much your GDP is reduced, not your deficit.
No the link may not quantify that, but it hardly a ringing endorsement of Labour's economic management over the last few years is it!
Actually what it shows us is much, much worse than a recession itself, countries go in and out of recession and can be out of them in a year (or even a quarter) or so, but a defecit of such proportions is a structural mismanagement of the economy caused by spending too much compared to what you bring in. It is fundemental bad housekeeping by Labour and it is going to take numerous (10ish I reckon) years of cuts and tax rises to get out of, it is an abysmal running of an economy.
Also the original poster (not myself) was half right but I think he said EU countries when what he should have said G8 economies. Because we were the last of these to come out of the recession in 4Q2009, when our GDP went positive in the end. What the link to below predicted this and it is what actually happened, we were the last G8 country out of the recession.
UK likely to be last out of slump | Business | guardian.co.uk
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I wasn't challenging the argument that we were in recession longer, the facts speak for themselves, the question is whether our GDP fell as much as other countries and it appears you haven't substantiated that.
Ok I have looked at the original quote
It was "as the worst in the world coupled with the fact that the recession in the UK was longer and deeper than every other major economy." The Guardian article suggests that it was the longest recession of every major economy and that it was the third deepest in respect of the overall shrinkage of the economy (wow put out the flags for the celebrations!).
Here is another example of the state that thirteen years of Labour's management of the economy has left us.
Britain's deficit third worst in the world, table - Telegraph
You should read the article as it states what Australia did and this is a good example of how a governement deserves praise for running an economy, because when times were good (pre 2008) they run a surplus i.e they didn't spend more money than they had, unlike the UK Labour party whom (pre 2008) still even when the tax revenues were flowing spent more than they were getting in. Now that times for all countries are bad and tax revenues are down and spending requirements are up on things like unemployment benefit, stimulating the economy etc. the Aussies are not left with such a monumental debt like we are.
The Australian government (and certainly not ours) deserves praise for the way they have run their economy and this is what is helping them now, unlike the way Labour run our economy and now we have it would seem the 3rd worst defecit in the world. Again these are figures from independent sources (the OECD) not a group that has political biases.
So at the end of the day, we had the longest recession, the third deepest recession and now have the biggest defecit as a % of GDP of the G8 countries (and the 3rd worst in the world) if that is good economic management I don't know what bad would be!