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    I was watching the ten o'clock live programme a few days ago, and saw Ken Livingston claiming that debt under Labour was lower when they left office than when they came in. I thought "Rubbish", but then remembered PFI. That is often excluded and heavily inflates debt figures when added.

    Why is Labour keen to exclude PFI? This is something the Coalition could hit them with, surely?

    In Scotland the Labour Party often dispair about the loss of construction jobs, but when the SNP states that they are not using PFI anymore, the Labour party suddenly shuts up.
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    Well wether PFI is included or not, the way the Office of National Statistics calculates our debt always uses the same formula.
    And the fact is when Labour came to power the national debt was 42% of GDP, and when they left it was over 60%. Larger in absolute terms, and larger as a percentage of GDP.
    So Ken Livingstone is a liar.
    (He may have been thinking of when Tony Blair left office, since debt was 35% of GDP in 2007, and fair enough if I was a Labour MP I'd want to forget about the Brown years aswell.)
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    (Original post by Stanley Baldwin)
    I was watching the ten o'clock live programme a few days ago, and saw Ken Livingston claiming that debt under Labour was lower when they left office than when they came in. I thought "Rubbish", but then remembered PFI. That is often excluded and heavily inflates debt figures when added.

    Why is Labour keen to exclude PFI? This is something the Coalition could hit them with, surely?
    PFI was bad value for money for the taxpayer, on the flip side a lot of private companies did very well out of PFI contracts. So it delivered investment projects and schools, hospitals etc, but it saddled the taxpayer with a hefty bill to repay over the long term which will go to the pockets of private firms.

    Back in 2000-01 I remember a lot of vocal opposition to PFI by the trade unions who were saying it was a way of mortgaging our future....way before the whole discourse about government debt and deficit spending was part of the main political scene.

    However, don't expect too much criticism from the Tories. PFI was a Conservative scheme brought in in 1992. The fact that 13 of its 19 year history, has been under Labour governments means that most of the damage was done under Labour governments, but PFI was a Conservative idea to get the private sector involved in providing public services.
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    Labour seem to have forgotten all about the debt they admitted too just before the General Election, they were either lying then or they are lying now.
 
 
 
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