Quote:
Originally Posted by cmonstanley
well official figures say we were paying of our debt faster than the tories are now,we were out of recession with growth,borrowing less than the tories are now and our triple aaa credit rating wasnt under threat  |
I agree when the Labour party kept to the two years planning that the previous Tory government had set we did get out of recession. I used to have a small manufacturing company and as a historic rule when the shops did well over Xmas and the New Year it meant that small,medium and large companies would have money to spend on equipment and/or expansion. For most of the years Labour were in power shops didn't do very well over that period- and in case you point out that halfway through their reign the internet was starting to be used by shoppers instead of the high street, it doesn't make any difference. This is because every retailer who trades in a shop or on the internet (excepting the smallest ones) has to fill in a VAT return and these figures are the ones we hear on the news, e.g. "Sales were down on this time last year".
Every country has various debts taken out over a period of time and the money used to pay GB's debts came from our gold reserves, the sale of government bonds and the prices other people/countries paid to buy our Sterling as an investment (poor things) - if Labour was using our tax money to pay part of the debts they must have had a shock when the work started drying up.
If you heard the news on TV that Belusconi (spelling?) was trying to make a come back, then you'll have heard that investors were taking their money out of his country pdq and lenders were looking to raise the interest rates - that is what would have happened if Gordon Brown had won the last election.