Did the last Labour government leave this country in a financial mess ?

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Originally Posted by purple haze2 wrote on Mon, 13 April 2015 15:35

Did Labour leave this country in a financial mess ?

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The bankers did , ask anyone outside the narrow Tory/coalition Party they will confirm that , even Mervin King Ex Bank Of England said the same , strangely on Radio 5 today two american political media people were debating Hilary Clinton and the bankers / recession , and out of the blue one simply went onto say the bankers are still a long way from being properly regulated in the UK even with the Tories in power , so look out as it may come again, and if it does and labour is in power i suppose it will give the Tories a perfect platform to willfully slash away at peoples lives at the lower end of the money tree .

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Originally Posted by TruBlue wrote on Mon, 13 April 2015 16:39

Not so much about them leaving the country in a state, for the most part Blair run the economy pretty well.

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Agree with that. That said I'm always amused by the tired old cliche that frequently gets rolled out by the one eyed conservative chunk of the media that suggests the Tories are good at running the economy and Labour aren't. We've seen ropey fiscal management from both parties over the decades.

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Originally Posted by ragbone Red wrote on Mon, 13 April 2015 18:19

Did Labour leave this country in a financial mess ?

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Originally Posted by purple haze2 wrote on Mon, 13 April 2015 15:35

Do you accept that Labour overspent for the 13 consecutive years that they were last in power ?

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Just look at the graph mun, one squiggle went this way, and another squiggle went that way. Proof that it was Labour who dunnit http://www.ccmb.co.uk/images/smiley_icons/thumbup.gif

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Originally Posted by saganspirit wrote on Mon, 13 April 2015 17:38

Sajid Javid (Culture Minister) today said the reason this government couldn't stick to it's financial promises was worldwide events and tragedies, this just after attacking the Labour government before them and refusing to entertain worldwide events and tragedies as mitigating circumstances.

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Originally Posted by surge wrote on Mon, 13 April 2015 16:58

http://www.ccmb.co.uk/images/smiley_icons/hehe.gif that sums up politicians unfortunately.

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Indeed. I also liked the post about Labour supporters going mad if it had been a Tory government in charge for those 13 years with the same outcome.

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Originally Posted by Gluey wrote on Mon, 13 April 2015 18:26

Did Labour leave this country in a financial mess ?

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Originally Posted by ragbone Red wrote on Mon, 13 April 2015 18:19

Do you accept that Labour overspent for the 13 consecutive years that they were last in power ?

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Originally Posted by purple haze2 wrote on Mon, 13 April 2015 15:35

If a family or an individual was close to bankruptcy would you expect them to have to make cutbacks, continue to spend as they had or to actually spend more ?

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Intelligent folks always knew the truth, ignorant people just buried their heads in the sand and believed the rubbish the Tories told them. We are now all paying the price of their incompetence and lies.

I spoke today to a guy who works in Lloyds .
The UK economy has been toatally stimulated by PPI payouts. 3-4k payouts have acted as springboard for a recovery as people will pump that straight back into consumer goods or holidays etc. It has nothing to di with Gideons austerity. In fact the guy said if it wasnt for PPI Gideon would have totally stagnated the economy .
He also stated the US sub prime knackered the World economy and until then Labour were doing the biz financially.
Global markets mean we are all in the shite together.

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Originally Posted by Mick the Miller wrote on Mon, 13 April 2015 19:32

I spoke today to a guy who works in Lloyds .

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So in summary, we've all been ripped off for years and the general public are just getting wise to it. That's about the truth of it.

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Originally Posted by Mick the Miller wrote on Mon, 13 April 2015 19:32

I spoke today to a guy who works in Lloyds .

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http://www.ccmb.co.uk/images/smiley_icons/Dsmile.gif

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Originally Posted by Croesy Blue wrote on Mon, 13 April 2015 19:50

I spoke today to a guy who works in Lloyds .

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Originally Posted by Mick the Miller wrote on Mon, 13 April 2015 19:32

The UK economy has been toatally stimulated by PPI payouts. 3-4k payouts have acted as springboard for a recovery as people will pump that straight back into consumer goods or holidays etc. It has nothing to di with Gideons austerity. In fact the guy said if it wasnt for PPI Gideon would have totally stagnated the economy .

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http://www.ccmb.co.uk/images/smiley_icons/hehe.gif http://www.ccmb.co.uk/images/smiley_icons/hehe.gif

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Originally Posted by Croesy Blue wrote on Mon, 13 April 2015 19:50

I spoke today to a guy who works in Lloyds .

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Originally Posted by Mick the Miller wrote on Mon, 13 April 2015 19:32

The UK economy has been toatally stimulated by PPI payouts. 3-4k payouts have acted as springboard for a recovery as people will pump that straight back into consumer goods or holidays etc. It has nothing to di with Gideons austerity. In fact the guy said if it wasnt for PPI Gideon would have totally stagnated the economy .

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Don't be silly. He works behind the bar.

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Originally Posted by Croesy Blue wrote on Mon, 13 April 2015 19:50

I spoke today to a guy who works in Lloyds .

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Originally Posted by Mick the Miller wrote on Mon, 13 April 2015 19:32

The UK economy has been toatally stimulated by PPI payouts. 3-4k payouts have acted as springboard for a recovery as people will pump that straight back into consumer goods or holidays etc. It has nothing to di with Gideons austerity. In fact the guy said if it wasnt for PPI Gideon would have totally stagnated the economy .

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Now that was funny http://www.ccmb.co.uk/images/smiley_icons/hehe.gif

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Originally Posted by purple haze2 wrote on Mon, 13 April 2015 15:35

Did Labour leave this country in a financial mess ?

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To summarise and provide a straight answer to you question,no Labour didn't and in all honesty if any party had seen its actual danger they would have acted,this was carried out by rich bankers and the political establishment have looked to blame anyone but their rich INFLUENTIAL friends.

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Originally Posted by ragbone Red wrote on Mon, 13 April 2015 20:11

Did Labour leave this country in a financial mess ?

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Originally Posted by purple haze2 wrote on Mon, 13 April 2015 15:35

Do you accept that Labour overspent for the 13 consecutive years that they were last in power ?

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So to stop bankers getting the blame, the politicians have blamed themselves? That's very decent of them.

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Originally Posted by TruBlue wrote on Mon, 13 April 2015 20:20

Did Labour leave this country in a financial mess ?

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Originally Posted by ragbone Red wrote on Mon, 13 April 2015 20:11

Do you accept that Labour overspent for the 13 consecutive years that they were last in power ?

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Originally Posted by purple haze2 wrote on Mon, 13 April 2015 15:35

If a family or an individual was close to bankruptcy would you expect them to have to make cutbacks, continue to spend as they had or to actually spend more ?

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Blamed anything but the bankers

<cite>TruBlue wrote on Mon, 13 April 2015 20:20</cite><blockquote><cite>ragbone Red wrote on Mon, 13 April 2015 20:11</cite><blockquote><cite>purple haze2 wrote on Mon, 13 April 2015 15:35</cite><blockquote>Did Labour leave this country in a financial mess ?<br />
<br />
Do you accept that Labour overspent for the 13 consecutive years that they were last in power ?<br />
<br />
If a family or an individual was close to bankruptcy would you expect them to have to make cutbacks, continue to spend as they had or to actually spend more ?</blockquote><br />
<br />
To summarise and provide a straight answer to you question,no Labour didn't and in all honesty if any party had seen its actual danger they would have acted,this was carried out by rich bankers and the political establishment have looked to blame anyone but their rich INFLUENTIAL friends.</blockquote><br />
<br />
So to stop bankers getting the blame, the politicians have blamed themselves? That's very decent of them. </blockquote>
<br />
And why not? They will all end up in the boardrooms of the major banks and corporations for 'services rendered'. I think Blair got rewarded by JP Morgan for introducing student loans, and the light touch banking regulations among other things.
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At least the country was kept out of the Euro , full marks all round on that issue

Twice in the past 36 years, Labour has left the country close to bankruptcy through its economic and social illiteracy. Will it be 3rd time (un)lucky? God forbid.

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Originally Posted by Mick the Miller wrote on Mon, 13 April 2015 19:32

Croesy Blue wrote, on Mon, 13 April 2015 19:50

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With accompanying arguments either way please.

What are your views on the handling of the economy in 1992 ?
This is a question for you jackrabbit

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Originally Posted by Mabinogion wrote on Mon, 13 April 2015 16:25

given the state of the economy I'm not sure the Conservatives would have adopted a different tack either.

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Originally Posted by Eric the Half a Bee wrote on Mon, 13 April 2015 16:23

They said at the time they endorsed Labour's spending plans.

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Originally Posted by The Local Boy wrote on Mon, 13 April 2015 15:59

I think that whichever party ends up in a coalition government for the next 5 years they'll spend similar amounts. This whole idea that the Tories will slash everything or Labour will spend too much is far fetched from both sides.

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It's like comparing chalk and chalk in my opinion.

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Originally Posted by jackrabbit wrote on Mon, 13 April 2015 20:54

Twice in the past 36 years, Labour has left the country close to bankruptcy through its economic and social illiteracy. Will it be 3rd time (un)lucky? God forbid.

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This time we've had the rich boys squeeze.

Yes they over spent , and lots of it was hidden in PFI schemes (thanks to Gordon Brown and Balls)

The problem is the money has been spent - and what is now impossible to fix is getting the yearly deficit down.

If that doesnt come down - then the Govt ends up borrowing more - and that also means more interest to pay each year - rather than spending it on things we would all prefer - education , transport, health , welfare etc.

Trying to dig ourselves out of this mess is just about impossible. The only way to increase the tax take (without fecking the economy) is to grow the economy and the only way you can do that is by exporting to other countries.

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Originally Posted by purple haze2 wrote on Mon, 13 April 2015 15:35

Did Labour leave this country in a financial mess ?

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I can't see how anyone can suggest that the entire term of the previous Labour Government was something associated with overspending. Gordon Brown run a surplus for longer than any other post war Chancellor.

Ray

That's a little disingenuous as the UK was on its way to surplus in 1997 - the hard work turning the economy around had already been done.

During the first term labour showed fiscal restraint but from 2002 onwards they abandoned such fiscal conservatism And as a result the government wasn't as able as it could hAve been when the downturn arrived.