Re: UK election results thread
 

At least you agree with me though

Your righter, brighter future awaits

Re: UK election results thread
 

....and you will live in a fairer, happier society when Abbott and his shower are booted out:thumbsup:

Re: UK election results thread
 

Claims that Labour creates deficits and Tories don't; proof that this is not the case; national debt has ballooned in last 5 years; the expected response - it would have ballooned more under Labour rather than just saying maybe we don't do/can't do what we think we do. :rofl:

Re: UK election results thread
 

They do. And more importantly they do it when the times are good. Can you give me a time when Labour didn't create a mess during times of global economic stability in the last 40 years in the UK.

Re: UK election results thread
 

One assumes you concede that Tories of late have not eliminated the budget deficit and have nearly doubled the national debt because there is no evidence to suggest otherwise.

In answer to your question, the Office for National Statistics reports:

"From 1993 to 2007 the United Kingdom reported an average annual rate of growth of 3.3 percent".

Just under 4 years of that 14 year period were Tory years.

7 years after the GFC, under the Tory watch, the Bank of England 2 days ago has downgraded its forecast for UK economic growth to 2.5% (from a weak base).

Bank of England downgrades UK economic forecast for growth to 2.5% and hints at interest rate rise - Wales Online

Re: UK election results thread
 

YAWN

Re: UK election results thread
 

I agree...the Tories are a corrupt incompetent shower...a complete waste of space time and effort:thumbdown:

Re: UK election results thread
 

I notice you conveniently swepted those figures I presented you, from the website you presented, nicely under the carpet. The same figures that are a complete embarressment for labour in such healthy economic times. The same figures that blow away any cred with these new figures you are presenting. You don't have to be a rocket scientist to understand years of conservative toil set Tony Blair up beautifully and he only went and ruined it with rising deficits and a poorly regulated financial system. The bottom line is my friend, you are currently living in a country of utter left wing confusion. So if that's your poison pill good luck to you. Perhaps sooner rather than later your Scotland will be its own loony left entity and the rest of Britain can get on with growing and moving forward. There's exciting time ahead for Britain but if you want to live in the past, and not a glorious at that as the stats show, your call. Have fun :)

Re: UK election results thread
 

I don't know why I'm bothering to wade into this when your blinkers are so firmly welded on but here goes! :p

http://static.guim.co.uk/sys-images/...nd-par-008.jpg

(a bigger version of the image here)

What do we see? 19 years of Conservative government leading up to 2007. 17 of them recording deficits totalling nearly 330bn...two tiny surpluses totalling 8bn at the height of the 'loadsamoney' period in the late 80s when GDP growth approached 6%...never even been close since.

Strong growth periods in the mid-80s - deficits recorded.
Strong growth periods in the mid-90s - big defecits recorded.

Labour's performance in the 'good times' is no different than the preceeding Conservative governments, well except for the fact that they managed to eek out a few more surpluses before returning to business as usual.

Over to you now to ignore all that and bang on about the big red lines at the end! :lol:

Re: UK election results thread
 

Firstly the conservatives didn't govern til 2007. No worries.

But these graphs show nothing that has not already been presented.

Take a look at those graphs. When shit messes up it is preceded by who's doing?

There is never a labor up hill sloping on these graphs ever......ever. Labor never knows how to clean things up.

Thanks for the graph though. You managed to prove my point again :)

Re: UK election results thread
 

Yup, clearly I meant to say 1997.

So we're agreed then, our fiscally prudent right wing government ran deficits for nearly two decades...good times and bad. They weren't saving money for later when the economy was growing way above trend. So that notion is blown out the water?

Re: UK election results thread
 

So you are looking back at the 80's and 90's. Ok fair play. Ignore Tony Blairs incompetence.

So what happened before Maggie? Oh don't go there. What happened in the early 90's. Oh dear don't go there. What happened in the late 90's? Yes set it up beautifully for TB to come in and ruin it :).

Re: UK election results thread
 

Not sure if you didn't actually read the graph, but the far left edge is 1979.

As such it answers what happened in the early 90s - a ballooning Tory deficit

And the late 90s - Labour coming in and delivering .... a surplus.

Here's the original in more detail http://static.guim.co.uk/sys-images/...raphic-008.jpg

It demonstrates Labour delivering more surplus than the Tories - or did you expect something else?

Now, repeat after me, "You can't cut your way to greatness". And the next time you hear a far right winger misusing household economics to try to justify slashing spending for the poor, so his rich mates can have tax cuts, try repeating it to yourself so you can differentiate b*llsh*t from reality....

Re: UK election results thread
 

Garry. Simple. 91 was a recession. Recovery. Ohhh once sort look where it left Tony. And Tony blew it.

Your uk boys are hopeless.

Now on a positive note for Labor. Check out Shortens budget policies. First good thing I've heard from Labor in both countries for errrrr..... um...... 40 years

Re: UK election results thread
 

Yes, 1991 was a recession created by the Tories which you will deny but try this analysis of the 1980's/early 1990's disastrous management of the economy:

"The Lawson Boom – Background to Recession

During the 1980s the government allowed the economy to expand at a significantly higher rate than its long run trend growth rate. This was because they felt there had been a “supply side miracle”. They argued that its supply side policies enabled the economy to grow at a faster rate than before.

During the 1980s, the government kept interest rates low and cut income tax, especially for high earners. This helped increase consumer spending. Also, during the 1980s, there was a boom in the housing market. The rapid increase in house prices lead to an increase in consumer wealth and consumer spending. There was a big increase in consumer confidence.

Unfortunately it proved wishful thinking that the economy experienced a supply side miracle; most of the economic growth was caused by consumer borrowing and spending. This was reflected in a large current account deficit and growing inflation.

The effect of growth above the long run trend rate was to cause inflation and a large current account deficit.

To reduce the double digit inflation the government joined the Exchange Rate Mechanism in 1990, it was felt that by joining, inflation would be brought under control.

However, as the UK joined the ERM, the economy began to slow down, and it soon became difficult to keep the value of the Pound at its exchange rate target against the DM.

To maintain the value of Sterling the government had to:

Use its foreign currency reserves to buy sterling (the UK lost an estimated £3.5 – £21bn in the ERM)

Increase interest rates. In September 1992, interest rates were 10%, despite the economy being in recession. The government even increased rates further to 12% and even temporarily 15% in an effort to protect the value of Sterling. But, investors correctly predicted that these interest rates were unsustainable. "