2011 recession, who they trying to kid?

[WeX]

talking down the economy can become the cause of a down turn, as people with money slow their spending.

[GHS1961]

No I don't.

 

You've been listening to the Tories 'Labour left us in this mess...' rhetoric. They think If they repeat it often enough you'll believe it.The whole of Europe is in a similar state without labour's help.

 

The banks left us in this mess, and it's going to get a whole lot worse.

 

The jury is still out on the best way to tackle it, - Cut and try to reduce spending and borrowing, or spend and get the economy moving and growing.

 

Either way, the banks get off scott free...

 

But Labour DID leave the country in current economic mess - the state is borrowing a quarter of everything it spends, £400m every single day and spending more on interest than our spending on education and defence . This simply can't go on and the current government has the unenviable job of trying to get a grip of the mess Brown created.

 

The Financial crash and the bank meltdown was exacerbated by Brown's failure to ensure our financial institutions were correctly supervised. The split of financial supervision between the Bank of England, the Treasury and the FSA was entirely Labour's idea. Combine this with huge government borrowing during the boom years, when other countries were paying down their debt, and the result is the current mess.It took a decade of Labour neglect and incompetence to get us here.

[Cyclone]

More like they know it would be electoral suicide if they put interest rates up as much as their banking friends would like, like they usually do!

 

You realise that interest rates are no longer set by the government

[Xt500]

thats the tories for you rich. the country is on its knees, funding war, immigrants, and bad decision making in westminster. but we are to blame. we had the vote, and blew it putting those two "eton" chunnel busters in charge. I can only look forward to.......well, nothing really. no wage rise, rising fuel bills, food bills etc. yep, we are definately in a bad place at the mo. Im surprised that england is still open for business.

 

It always makes me laugh when idiots blame the Tories for being up to the neck in dept.

 

Hello!! The holes were full of holes a long time before the tories ever got in and not only the roads but everything else Labour let go to the wall (in fruitful years) will be for some time to come.

What makes you think things would be better under Labour?

[Mecky]

It said in the paper the other day that the UK is ranked in 20th place of 22 European countries for economic growth. Only portugal and Greece are in a worse position of economic growth.

[ECCOnoob]

Oh well if it was in the paper it must be true.

[Anna B]

But Labour DID leave the country in current economic mess - the state is borrowing a quarter of everything it spends, £400m every single day and spending more on interest than our spending on education and defence . This simply can't go on and the current government has the unenviable job of trying to get a grip of the mess Brown created.

 

The Financial crash and the bank meltdown was exacerbated by Brown's failure to ensure our financial institutions were correctly supervised. The split of financial supervision between the Bank of England, the Treasury and the FSA was entirely Labour's idea. Combine this with huge government borrowing during the boom years, when other countries were paying down their debt, and the result is the current mess.It took a decade of Labour neglect and incompetence to get us here.

 

Believe me - I'm no supporter of labour, but I think we are in thestate we're in because of the failure of successive governments of both political hues.

 

However let's not forget it was Margaret Thatcher who first deregulated the banks, leading to the rise of the Financial System being the mainstay of the British economy rather than manufacturing, hence the armlock hold the financial institutions have over the government. The banks have not just ruined the country, but are being allowed to continue to do so because the government dare not stop them. Legislation so far has been puny and useless.

 

As for the debt, I doubt it would have been much less under the Tories tho' it might well have been spent to support a diferent agenda. The Tories are now hiving off the social sector to massive private sector companies such as Serco, but still using public money to do it. This they call a 'cut.'

 

Private Companies are all about profit, not service. Ask yourself this, where is the profit in schools, carehomes, social services? Who is losing out so that the shareholders can get their dividends?

 

I doubt Labour would have faired any better, but at least it would have been interesting to see who they tried to blame...