Quote Originally Posted by Eric the Half a Bee View Post
Nice to see this old chestnut re-emerge. It's utter bollocks and has been proven to be nonsense time and again.

Out of interest, care to say make any comparisons between our national debt in 2010 after a global recession and any time close to the beginning of the Covid pandemic?
In 2007 debt/GDP was 34%, and it rose dramatically to its current levels following the financial crash in 2008. It peaked at 81% in 2016 and started to fall, rising rapidly again after the pandemic to its current level of 95%.

The debt/GDP rose continuously post financial crash, as to try and balance the books at that time would have ruined the economy. You cannot just remove £150bn of public expenditure from the economy to balance the books, it has to be undertaken by growing the economy, improving tax receipts and targeted cuts. Whilst the incumbent government succeeded in the first two (the Tories are not the party of low taxation), it is highly subjective whether they achieved the third aim.

We should see a faster reduction of debt/GDP this time around, as there was a lot of one off spending during the pandemic.

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