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Tory economic record watch

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    It tends to be Tony Blair's first line of attack (or defense) whenever he has the chance: The Tories proved themselves useless at handling the economy.

    Do you think this is fair, and why do you think that? What has made New Labour's record greater, or less than the Tories?
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    Some travesties stick in your mind, like when the Tories tried to sustain an artifically strong pound, costing the treasury hugely in just a few weeks...
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    Much of Britain's economic success under Labour has come down to two things: Brown giving independance to the Bank of England and Conservative reforms during the 80s. Of course staying out of the euro has helped, but it can't really be denied that much of the credit for the economy that Labour is taking belongs to the Conservatives.
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    Britains economy only appears good at the moment. The 'credit card culture' we eventually be the down turn. People are spending huge amounts of money they don't have (inc Govt?) on credit and eventually its all going to go tits up.
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    Yep. If the economy goes balls up like some economists are saying then Labour will have to raise taxes, and they will shed their position as the party of the economy (which it never really deserved anyway), leaving the way open for Gordon Brown to be regarded as a failure as a Prime Minister and the middle classes deserting in their hundreds of thousands and millions to a revigorated Conservative Party. Even without that most economists (or every one) has predicted that Brown will have to raise taxes if he is to keep to Labour's spending commitments in its manifesto.
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    the middle classes deserting in their hundreds of thousands and millions to a revigorated Conservative Party.
    Assuming the Tories do actually reinvingorate themselves :rolleyes:
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    (Original post by kizdesai)
    Some travesties stick in your mind, like when the Tories tried to sustain an artifically strong pound, costing the treasury hugely in just a few weeks...
    The ERM was supported by all parties.
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    People go on all the time about how the economy's going to have a downturn, but I think I'll believe it when I see it.
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    Don't worry, as soon as all the people go bankrupt by spending on credit, Mr Blair and introduce another stealth tax on the middle classes to sort it all out
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    (Original post by corey)
    The ERM was supported by all parties.
    Indeed, just as the war in Iraq will be solely credited to Labour in the future...

    (Original post by Wikipedia)
    Some commentators believe that 'Black' Wednesday has proved to be good for the British economy in the long-term, as interest rates were allowed to find their natural level. However, the reputation of the Conservatives for competent handling of the economy was shattered. Many commentators believe that the event is a key reason for the party's continued relative unpopularity. Many in the Party have yet to recognise that Black Wednesday was the result of poor economic management, not the cause of it.

    Subsequent analysis of this event recognised that stable exchange rates are the result, not the cause, of a common approach to economic management. This resulted in the Stability and Growth Pact that underpins ERM II and subsequently the Euro single currency.
    http://en.wikipedia.org/wiki/Black_Wednesday
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    http://www.bbc.co.uk/history/timelin...scontent.shtml

    but this was what the economy was like before the Conservaties came in power in that period.
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    Its true that the conservative taxation policy in the 80's was more widespread and open than the current labour system of appearing rosy and making billions through stealth taxes - its truly a disgusting way to operate.
    Also, one thing that is eventually going to come up is the poll tax...
    The poll tax was brilliantly fair, but the problem was the labour county councils whacked a massive value ontop of that - so in some regions it resulted in being 3 times the recommended value which was seen to be "fair". As a result, the riots.etc., occured and it was scrapped - reverting back to the council tax.etc., which the labour government initially implemented and which is now stated as so unfair, and the tories are still blamed! its ridiculous.
    The rallying cry of the american revolution was "no taxation without representation", well i say that this for the 21st century should be "no representation without taxation!".
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    (Original post by bikerx23)
    The poll tax was brilliantly fair, but the problem was the labour county councils whacked a massive value ontop of that - so in some regions it resulted in being 3 times the recommended value which was seen to be "fair". As a result, the riots.etc., occured and it was scrapped - reverting back to the council tax.etc., which the labour government initially implemented and which is now stated as so unfair, and the tories are still blamed!
    I've not heard about Labour council implication before, any references? Poll tax may have just been a bad call. You'd think she might have realised that last time someone tried it, it caused the Peasant's Revolt.
    ..and some people say the 14th century has no relevancce any more. Pfftt.
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    (Original post by JonD)
    It tends to be Tony Blair's first line of attack (or defense) whenever he has the chance: The Tories proved themselves useless at handling the economy.

    Do you think this is fair, and why do you think that? What has made New Labour's record greater, or less than the Tories?
    funny how he forgets to mention that gordy in the seat next to him copied and even continued on with many of the tory policies...
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    (Original post by JonD)
    It tends to be Tony Blair's first line of attack (or defense) whenever he has the chance: The Tories proved themselves useless at handling the economy.
    But they didn't. The Labor party inherited a very healthy economy from the Tories.
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    (Original post by FarnhamBoy)
    People go on all the time about how the economy's going to have a downturn, but I think I'll believe it when I see it.
    It is on the downturn. Defecit is on the increase, growth projections forecasted down, the pound falling against the dollar, house prices stagnating, high street sales slowing, job losses,.......
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    (Original post by JonD)
    I've not heard about Labour council implication before, any references? Poll tax may have just been a bad call. You'd think she might have realised that last time someone tried it, it caused the Peasant's Revolt.
    ..and some people say the 14th century has no relevancce any more. Pfftt.
    This was infact told to me by a politician...which you would think was suspect, but was infact a lib-dem politician, therefore i have a strong tendancy to believe it - since it shows no advantage for him to have boosted the tories over labour.etc.,
    i will have a look into the stats and see what i can dig out for you though...
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    (Original post by zaf1986)
    Assuming the Tories do actually reinvingorate themselves :rolleyes:
    If an economy goes into rescession it does wonders for the opposition's morale and popularity. But don't you worry, the Conservatives will come back to government some day, and probably someday quite soon. And even if they do go into decline (which is highly improbable) I doubt that they will be eliminated completely. Even the Liberals never had that happen to them.
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    (Original post by Lord Waddell)
    If an economy goes into rescession it does wonders for the opposition's morale and popularity. But don't you worry, the Conservatives will come back to government some day, and probably someday quite soon. And even if they do go into decline (which is highly improbable) I doubt that they will be eliminated completely. Even the Liberals never had that happen to them.
    I know the Conservatives will back in government some day, but hopefully later rather than sooner
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    In response to jdre86, that little snippet of a popular, conservative view that you linked to is at best unrepresentative and uneven. Interest rates and inflation went down breifly under Wilson's second time in charge between 1974 and 1976. If Callaghan had called an election in Autumn 1978 it is generally recognised he would have won.
 
 
 
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