Labour bets the house with pledge to outspend Tories

[Vague_Boy]

Labour is preparing to fight the 2015 election on a bold but risky pledge to spend more than the Conservatives.

 

Ed Miliband and Ed Balls will reject the more cautious approach – adopted by Tony Blair in 1997 – of sticking to the Tory government’s public spending limits in favour of a “new economic settlement” for Britain.

 

Some Labour figures believe that repeating Mr Blair’s landmark move would help the party regain economic credibility, on which it still trails the Tories. But there is a growing consensus inside the Shadow Cabinet, which includes its Blairites, in favour of reducing the deficit over a longer period than under the Coalition’s plans in order to finance “investment”, such as a huge house-building programme.

LINK

 

An intriguing U-Turn over their approach at the last election:

 

Alistair Darling: we will cut deeper than Margaret Thatcher

 

But it will probably be popular with those who think that there is a way out of the economic mess Britain is in (there isn't).

 

"in favour of reducing the deficit over a longer period than under the Coalition’s plans"

 

The problem with that approach is that even under the so-called "austerity measures" (lol!) our deficit hasn't gone down.

 

August 2012 was a record for that month [LINK]

 

And then there's our AAA rating, which was threatened because:

 

Britain looked poised to lose its AAA rating from a second ratings agency after Fitch Ratings warned on Friday it was likely to downgrade the country in the coming weeks, citing high government debt levels and weak growth

LINK

 

If we start cranking up our spending even further, the increased debt will most likely usher in further downgrades, adding to the cost of borrowing (needed for all this extra spending) and increasing the deficit still further.

 

Austerity won't work and neither will more state spending.

 

Sorry, but there is no way of avoiding the consequences of decades of bad decisions.

[Mecky]

You can always leave the UK if Labour get in. I should imagine they'll be a massive queue waiting to slam the door on your big fat bum on your way out.

[geared]

I'm abit worried that if they do get in their basic plan is to 'gamble it all'

 

They shouldn't be taking such big gambles with the economy - did they not learn from last time?

[Obelix]

You can always leave the UK if Labour get in. I should imagine they'll be a massive queue waiting to slam the door on your big fat bum on your way out.

 

Why not address the criticisms raised Mecky, along with all the others over the course of the years that you've ducked?

 

Labour have done a U-turn. You'd be crowing from the rooftops like a wind up parrot if it was the Conservatives.

 

So what do you make of the fact then that Labour appear to have U turned, and that they still appear to be tax and spend, and that they still havent learnt from their previous disastrous mistake of spending all the money that the country had and are intent of becoming Old Mother Hubbard yet again?

 

Well?

[WeX]

Where will this money come from? Didn't they spend every last penny last time and still manage to sink the UK economy into the deepest recession in decades.

[alchresearch]

Just further evidence that Miliband and Labour are not ready for power.

 

Sadly, its soundbites like this which wins opinion from the ignorant and uninformed.

 

But, rather than crow and gloat, I'd much rather hear from Labour supporters who are concerned at this, because at the minute we have a very weak opposition.

[brianthedog]

Personally, I applaud any politician who is confident to do a "U turn". Surely it's better to admit your initial view was wrong and you have reconsidered than to plough on blindly?

 

However, in this instance I think they're wrong. The spending of the last Labour government was grossly disproportionate to what the country needed and could afford - a legacy we will be paying for a long time. Sadly, I think a lot of people are yet to realise this so will vote for any government which opposes the current Conservative approach.

 

Mecky - try responding to the point of a thread for once. Or just not bother posting if you have nothing constructive to contribute.

[mossdog]

Personally, I applaud any politician who is confident to do a "U turn". Surely it's better to admit your initial view was wrong and you have reconsidered than to plough on blindly?

 

However, in this instance I think they're wrong. The spending of the last Labour government was grossly disproportionate to what the country needed and could afford - a legacy we will be paying for a long time. Sadly, I think a lot of people are yet to realise this so will vote for any government which opposes the current Conservative approach.

 

Mecky - try responding to the point of a thread for once. Or just not bother posting if you have nothing constructive to contribute.

"The spending of the last Labour government was grossly disproportionate to what the country needed and could afford - a legacy we will be paying for a long time."

 

Reminds you of the World Student games debacle in Sheffield ,again sanctioned by a Labour council!

The saying will always be true.............."The trouble with Socialism is that it eventually runs out of other peoples money'

[brianthedog]

Personally, I applaud any politician who is confident to do a "U turn". Surely it's better to admit your initial view was wrong and you have reconsidered than to plough on blindly?

 

However, in this instance I think they're wrong. The spending of the last Labour government was grossly disproportionate to what the country needed and could afford - a legacy we will be paying for a long time. Sadly, I think a lot of people are yet to realise this so will vote for any government which opposes the current Conservative approach.

 

Mecky - try responding to the point of a thread for once. Or just not bother posting if you have nothing constructive to contribute.

"The spending of the last Labour government was grossly disproportionate to what the country needed and could afford - a legacy we will be paying for a long time."

 

Reminds you of the World Student games debacle in Sheffield ,again sanctioned by a Labour council!

The saying will always be true.............."The trouble with Socialism is that it eventually runs out of other peoples money'

 

Fantastic. New signature!

[WeX]

The saying will always be true.............."The trouble with Socialism is that it eventually runs out of other peoples money'

 

Head, nail, hit!

 

:clap: :clap: