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The Tory national debt lies. watch

  • View Poll Results: After reading this would you consider giving Labour a 2nd chance?
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    Most people believe that new Labour left Britain with more debt at the start of the financial crisis than what they inherited in 1997 but this is a huge porky lie enforced by the Conservative party. Look at these statistics.



    Fact! By 2007 at the start of the financial crisis; new Labour actually decreased our national debt by 4%.

    It was the international recession that caused all the problems. The recession that was caused by the big banks.

    So when you vote in May remember everything you've been told about New Labour is actually a BIG FAT TORY LIE.

    Look at all the misery the Tories have caused with their idealogical austerity.
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    Debt will increase so long as you have a deficit. You can't wipe out a deficit overnight without crippling the economy and making masses of people unemployed.

    They have reduced the deficit and once that falls below the level of growth, debt as a percentage of GDP will fall.
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    (Original post by illegaltobepoor)
    Most people believe that new Labour left Britain with more debt at the start of the financial crisis than what they inherited in 1997 but this is a huge porky lie enforced by the Conservative party. Look at these statistics.



    Fact! By 2007 at the start of the financial crisis; new Labour actually decreased our national debt by 4%.

    It was the international recession that caused all the problems. The recession that was caused by the big banks.

    So when you vote in May remember everything you've been told about New Labour is actually a BIG FAT TORY LIE.

    Look at all the misery the Tories have caused with their idealogical austerity.
    Most people are idiots?

    The Tories have never said that, as its quite obviously false.

    They said there was a high deficit going into the recession, which although they didn't seem to bothered about it at the time, was true - even the EU was moaning at the UK for its >3%/gdp deficit.

    The recession was caused by the big banks, under the governance and regulation put in by the FSA which Labour created.
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    Why would I want to give labour a second chance? Thy continually screw it up every time they're in power.

    To quite Albert Einstein, the definition of madness is doing then same thing over and over again and expecting a different outcome.

    Remeber this?

    http://news.bbc.co.uk/2/hi/uk_politics/8688470.stm
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    (Original post by illegaltobepoor)
    Most people believe that new Labour left Britain with more debt at the start of the financial crisis than what they inherited in 1997 but this is a huge porky lie enforced by the Conservative party. Look at these statistics.



    Fact! By 2007 at the start of the financial crisis; new Labour actually decreased our national debt by 4%.

    It was the international recession that caused all the problems. The recession that was caused by the big banks.

    So when you vote in May remember everything you've been told about New Labour is actually a BIG FAT TORY LIE.

    Look at all the misery the Tories have caused with their idealogical austerity.
    Please look up the difference between the structural and cyclical deficit, then come back and report your findings.
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    (Original post by MatureStudent36)
    Why would I want to give labour a second chance? Thy continually screw it up every time they're in power.

    To quite Albert Einstein, the definition of madness is doing then same thing over and over again and expecting a different outcome.

    Remeber this?

    http://news.bbc.co.uk/2/hi/uk_politics/8688470.stm
    Remeisent to the note left to Harold Wilson.

    Do remember Labour were voted in with quite a few seats in '97, '01 and '05. It wasn't without reason. Use your quote again.
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    Nah I don't trust them in power alone. A lab/lib coalition would be a better result. Whilst the Tories tear themselves in half over Europe.

    A centrist government without all of labours authoritarian nanny state rubbish,
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    Congratulations, you fell into the trap that Labour want you to! They work, or at least worked, under a basis whereby they ran at a deficit, but made sure it was small enough so that as a % of gdp the total debt would decrease. From 1997 until the financial crisis, yes, the debt as a % of gdp went down slightly, but gdp, what, almost doubled? Well, about a 60% rise when accounting for inflation. So, if the debt as a percentage of GDP remains the same, and GDP goes up 60%, I think you know what that means.
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    I'm no lover of the Tories but you aren't taking into account the massive unfunded liabilities in public pensions that is greater than our GDP.
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    (Original post by The_Mighty_Bush)
    I'm no lover of the Tories but you aren't taking into account the massive unfunded liabilities in public pensions that is greater than our GDP.
    Unfunded or underfunded?
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    (Original post by Quady)
    Unfunded or underfunded?
    Unfunded.
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    (Original post by Quady)
    Unfunded or underfunded?
    Unfunded. Basically anytime government guarantees something rather than paying for it via the taxpayer (the nuclear plants, help to buy ect..).
 
 
 
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