Do we still owe £1.3 Trillion?

[Mr Bloom]

Thankyou for that. An interesting and informative link.

 

However, I still disagree with the inherited debt being the fault of the 'overspending reckless Labour Government.'

 

It is easy to see, taken from the set of figures and graphs in your previous post /link:-

 

The last labour government were in power from 1997, during the first few years of which, government spending was relatively normal compared with previous years, (in fact some years it was in surplus.) It was growing, but at a similar rate to Tory figures.

 

In 2007 / 2008 it suddenly rockets at an alarming rate. This of course coincides with the banking crisis and crash, quantatitive easing etc. This would have happened no matter who was in power. It also continued to rocket upwards from 2010 when the Tories took control, arguably at an even greater rate.

 

It's therefore extremely unfair and disingenuous of the Tories to keep on with the mantra that the debt is all the fault of the Labour government's reckless spending, when your own graphs and figures prove quite conclusively that it was the Global economic crisis that was responsible. I really don't like bare faced liars.

 

The Tory government has cut and cut ruthlessly, damaging the most vulnerable and powerless in society, while at the same time allowing the big multinationals to continue avoid tax to the tune of £billions. The UK now has such lax tax laws for the rich that it is now considered to be the tax haven of choice for the rich (and the unsavoury) to exploit, hence the influx of Russian oligarchs and billionaires into London buying up property etc.

 

They don't come here for the weather...

 

:clap: Right on the money!