Interest rates up 0.5%!

[Vindec]

I'm 33 now, since I've been an adult I've never known a good economy. Is this really the best we can do? The tories are economically illiterate, you're a fool if you believe otherwise.

I think you are incorrect. Interest rates and inflation have been consistently low for most of your adult life compared to say the 1970's when interest and mortgage rates were in excess of 20%.

In answer to Eric's comment - labour did not ruin the economy. It was World factors including a virtual collapse in the Banking system internationally. Labour got the blame for the financial crisis in 2008 but later detailed analyses showed that the problems experienced were due to factors completely outside their control. Again the country is in a growing financial mess due to factors outside governmental control such as COVID fallout and the war in Ukraine (which alone adds around 13% to inflation). It's going to be rough for the next few years.

[Citizen's Nephew]

I think you are incorrect. Interest rates and inflation have been consistently low for most of your adult life compared to say the 1970's when interest and mortgage rates were in excess of 20%.

In answer to Eric's comment - labour did not ruin the economy. It was World factors including a virtual collapse in the Banking system internationally. Labour got the blame for the financial crisis in 2008 but later detailed analyses showed that the problems experienced were due to factors completely outside their control. Again the country is in a growing financial mess due to factors outside governmental control such as COVID fallout and the war in Ukraine (which alone adds around 13% to inflation). It's going to be rough for the next few years.

Labour were cringingly apologetic too. They sucked up way too much Tory propaganda and didn't fight it properly. They were weak then when it came to opposing Tory austerity.

[Vindec]

Labour were cringingly apologetic too. They sucked up way too much Tory propaganda and didn't fight it properly. They were weak then when it came to opposing Tory austerity.

Eh! The Tories didn't gain power until 2 years after the 2008 crisis; austerity came much later. I agree that was a very poor policy. We should have been expanding the economy and not reducing it. The argument that there was no money was clearly incorrect as £405bn was found to pay for COVID.

[Citizen's Nephew]

Eh! The Tories didn't gain power until 2 years after the 2008 crisis; austerity came much later. I agree that was a very poor policy. We should have been expanding the economy and not reducing it. The argument that there was no money was clearly incorrect as £405bn was found to pay for COVID.

I know this. My point was when the Tories formed a coalition with the Lib Dems in 2010 the conservative narrative that Labour f*cked the economy and there was no money was created as means of justifying the austerity ideology and Labour were too weak and apologetic instead of fighting that narrative. Had they done so effectively, we still wouldn't have this nonsense that they were totally responsible for 2008 still peddled even today in this thread. So, we're actually in agreement, I think, though I can never really tell on CCMB.

[Vindec]

I know this. My point was when the Tories formed a coalition with the Lib Dems in 2010 the conservative narrative that Labour f*cked the economy and there was no money was created as means of justifying the austerity ideology and Labour were too weak and apologetic instead of fighting that narrative. Had they done so effectively, we still wouldn't have this nonsense that they were totally responsible for 2008 still peddled even today in this thread. So, we're actually in agreement, I think, though I can never really tell on CCMB.

I refer to my comment on Page 1 of this thread as follows:

In answer to Eric's comment - labour did not ruin the economy. It was World factors including a virtual collapse in the Banking system internationally. Labour got the blame for the financial crisis in 2008 but later detailed analyses showed that the problems experienced were due to factors completely outside their control. Again the country is in a growing financial mess due to factors outside governmental control such as COVID fallout and the war in Ukraine (which alone adds around 13% to inflation). It's going to be rough for the next few years.

[life on mars]

When you read through the post on hear you can see they are just base on hated of a specific party , somewhere in the middle of all this is the truth , global events effect the economy whatever party is in power its what folk call globalism or being party of a bigger environment like the EU , incredibility for such a small such a small island /land mass compared to the huge continents and countries we are the sixth-largest national economy in the world and equally importantly the eighth-largest by purchasing power .

Now take a look at the political parties that have ruled over us in the last 60 years and you may find one party has been in charge of for the majority of time including the public purse that controls the NHS , Education , Police , Security ,the next question one may ask are the majority in a desperate position ??

Could we do better of course we could ,have we become spoilt perhaps ?

Do other countries have it worse , well yes as our wealth is 6th out of 193 countries and some have been starving for decades as we just waste ??

Is there a worse cost of living and poverty crisis elsewhere compared to what we face now I guess the answer would be yes and has been for decades , do we really care because our mortgages go up whilst others live in dreadful housing around the world ??? are we only reacting now because we can feel it coming ??

By the way town was busy tonight and it wasn't full of millionaires zzzzzzzzzzz