Tories to spend more in 5 years than Labour did in 13

[MadManMoon]

Well, I am just speechless at this. Had it been reported in the Daily Mirror I wouldn't even have bothered to read it thinking it couldn't possible be true. But the story is reported in the right wing Tory supporting Daily Telegraph. Tory supporters please give your valuable opinions on this story.

 

http://www.telegraph.co.uk/finance/financialcrisis/9272356/Turn-off-your-iPad-David-Cameron-and-start-dealing-with-Britains-debt.html

[Joseph Anton]

Labour kept to Tory spending plans for half the 13 years then started spending like there was no tomorrow. They left a debt that costs £30 billion per year in interest alone, banks to bale out, 1 million extra public sector workers to pay, a foreign war to pay for, and budget commitments for the entire parliament.

 

Interestingly Ed Miliband was forced to concede that he would increase our level of debt and borrowing if he were in power.

 

http://news.sky.com/story/1085005/miliband-admits-he-would-increase-borrowing

 

Labour leader Ed Miliband has admitted to Sky News that he would be forced to increase borrowing if he was in power now.

 

Mr Miliband, speaking to political editor Adam Boulton, conceded his economic plans would involve spending more.

 

Labour say they would temporarily cut VAT - which was raised to 20% by the coalition in 2011 - in an attempt to stimulate growth and have also advocated a 10p tax rate.

 

Speaking in the wake of Mr Miliband’s comments, Shadow Business Secretary Chuka Umunna told Sky's Jeff Randall that the move would drive up borrowing by £12.5bn a year.

[wednesday1]

They've only been in for 3 years so far, but it does seem much longer!

[Mecky]

It's 2.5 years actually. With all these cuts it makes you wonder where all the cash is going doesn't it? overseas' aid perhaps? Subsidised parliament bars? Bribes for 2015?

[wednesday1]

It's 2.5 years actually. With all these cuts it makes you wonder where all the cash is going doesn't it? overseas' aid perhaps? Subsidised parliament bars? Bribes for 2015?

 

 

They would account for very small beer in the grand scheme.

[MrSmith]

Well, I am just speechless at this. Had it been reported in the Daily Mirror I wouldn't even have bothered to read it thinking it couldn't possible be true. But the story is reported in the right wing Tory supporting Daily Telegraph. Tory supporters please give your valuable opinions on this story.

 

http://www.telegraph.co.uk/finance/financialcrisis/9272356/Turn-off-your-iPad-David-Cameron-and-start-dealing-with-Britains-debt.html

 

They are borrowing money because we can't afford our public sector and benefits system, they require more funds than are taken in tax and every year borrowing as to increase to support them and the interest on the debt we already have.

 

Public sector net debt hit £1 trillion in March 2011, and has continued its steady ascent. The figure has risen from £337bn in 2000, to £1.16 trillion today - and that's excluding bank bail-outs.

 

http://www.debtbombshell.com/uk-national-debt.htm

[SevenRivers]

Well, I am just speechless at this. Had it been reported in the Daily Mirror I wouldn't even have bothered to read it thinking it couldn't possible be true. But the story is reported in the right wing Tory supporting Daily Telegraph. Tory supporters please give your valuable opinions on this story.

 

http://www.telegraph.co.uk/finance/financialcrisis/9272356/Turn-off-your-iPad-David-Cameron-and-start-dealing-with-Britains-debt.html

 

What we need is greater austerity, even deeper cuts. They're not going nearly far enough to reduce spending.

[MrSmith]

What we need is greater austerity, even deeper cuts. They're not going nearly far enough to reduce spending.

 

But it isn't what the population want, they want the debt to just disappear without any painwhich leaves the politicians with a bit of a dilemma.

[SevenRivers]

But it isn't what the population want, they want the debt to just disappear without any painwhich leaves the politicians with a bit of a dilemma.

 

True but the medicine doesn't always taste nice.

[Vague_Boy]

But the story is reported in the right wing Tory supporting Daily Telegraph

 

The Telegraph has always been oddly anti-coalition (although traditionally pro-Tory).

 

 

With all these cuts it makes you wonder where all the cash is going doesn't it?

 

The public sector, benefits and interest on the national debt.

 

To pay this year's £43 billion interest bill, every household will stump up more than £1,800 in tax.

LINK

 

An inventoried breakdown on what the government is spending the money on can be found here [LINK]

 

A large part of the increase in government spending between 2009-10 and 2010-11 is debt interest payments.

 

Yep, let's pile up that debt. It's not like there's any consequences or anything.

 

 

Anyhoo, back to the article:

 

If Britain’s state spending were cut back to 2004 levels – hardly the Dark Ages – studies suggest our economy would be able to grow at twice today’s speed.

 

Is that adjusted for inflation or not? Either way the guy is clearly calling for more austerity (or did the OP not read that far?)

 

The moral and economic case for limited government is firmly grasped in the roaring Asian economies. But none of this is obvious to HM Treasury:

 

I'm all for that as I've mentioned in the past, but I doubt if most of the lefties on here are.

 

For all the talk of cuts, state spending has come down just 0.9 per cent from Brown’s peak. The British strategy has been not so much sado-austerity as thesp-austerity: minimal cuts imposed with maximal dramatics.

 

Yep, austerity is an illusion. All the talk of "savage" cuts on here is just so much rectal gas.

 

Thank you MadManMoon for this most informative link. I never had you down as a limited government/more austerity type. Nice to know there's one more of us on here.