Tories have £30bn black hole in spending plans

Watch this thread
LordMarmalade
Badges: 1
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#1
Report Thread starter 7 years ago
#1
Due to their wild and irresponsible spending promises, the Tories have a 30bn black hole.

http://www.theguardian.com/business/...plans-says-ifs

And this is entirely in line with the Tories well-known economic incompetence (see 3 million unemployed under Thatcher, Black Wednesday under John Major). The Tories are big spenders and they are addicted to tax rises on ordinary working people (like their massive hikes in VAT; Labour has never left VAT higher when it left office than when it started, the Tories have left VAT higher when they left office every time)

Between 1980-1997, the Tories averaged government spending annually of 43.5% of GDP.

From 1997-2010 (including the crisis and bank bailouts), Labour spending averaged 39.8% of GDP.

From 2010-2014, Tory spending averaged 44.6% of GDP.

Of course some Tories will make pathetic excuses and say it's all Labour's fault, but the figures speak for themselves. Take responsibility for your actions and your failure to rein in public spending. If this claimed increase in public spending is so unnecessary, then why are the Tories completely incapable of simply dropping the spending the year they take office?
0
reply
LordMarmalade
Badges: 1
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#2
Report Thread starter 7 years ago
#2
By the way, I love it when Tory partisans try to respond to their record on VAT by claiming Labour increased VAT in the last government.

Labour implemented a temporary VAT relief reducing it from 17.5% to 15%, with a view to stimulating the economy. It was a time-limited programme and VAT would return to its 17.5% level the Tories increased it to from the 8% rate they inherited from Labour in 1979.

VAT bouncing back up to 17.5% is taken as a "VAT rise" by Tories desperate to deflect from their own record. Laughable. Labour has never left office with VAT higher than when they entered office. The Tories have left office with it higher every single time. They've taken it to 20% from the 8% Labour had it at in 1979.

What will happen after the next election? Probably increase it to 22.5% to pay for their cutting of income tax for those people at the top rate.

Finally, all the Tory crowing about increasing the tax-free threshold (which was a Lib Dem policy anyway) is risible; how much has the tax-free threshold actually increased when you take into account inflation? Why won't the Tories link the tax-free threshold to an inflation escalator, rather than increasing the nominal figure as inflation reduces the value of money, and then claiming some kind of moral victory?
0
reply
StretfordEnd
Badges: 15
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#3
Report 7 years ago
#3
I don't know where this myth of the Conservatives being fiscally prudent comes from; even under Thatcher total real spending on welfare actually increased as efficiency and equity plummeted.

At the end of the day though, this election campaign is a shambles. Crosby and CCHQ saw their strategy wasn't working so they just started throwing out fag packet promises in a desperate attempt to woo voters. Some of them didn't even make sense - freezing rail fares for example. Firstly, most of the commuter belt is solidly blue anyway and secondly, when Miliband spoke of freezing energy prices Cameron accused him of living in a Marxist wonderland (or words to that effect).

I've not actually read the full report yet (which I will do 'cause I can use it in one of my exams!) but I'll be interested to see whether the pre-election spending analysis from the IFS covers manifestos or includes every ill-thought out idiocy that has spilled from the mouths of the (former) Tory cabinet on this campaign trail. I'd have to assume it'd be the latter.
1
reply
StretfordEnd
Badges: 15
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#4
Report 7 years ago
#4
Semi-related, I was impressed with Miliband when he was interviewed by Evan Davies and refused to just tell viewers what they wanted to hear. Davies kept pressing him on why Labour was pledging less for the NHS than the Tories in particular - Miliband replied that only Labour had a costed plan and he felt it was irresponsible to just throw money into the air as other parties were doing.

If you want to talk about leadership suitability and Ministerial behaviour; I get that a lot more from a Labour campaign who've been generally unflappable, consistent and measured (if a little dull) than from a Conservative campaign who are lurching from one strategy to the next, throwing notes around like it's the final 5 minutes of Crystal sodding Maze.
0
reply
democracyforum
Badges: 4
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#5
Report 7 years ago
#5
simply borrow it
0
reply
The two eds
Badges: 4
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#6
Report 7 years ago
#6
(Original post by LordMarmalade)
Due to their wild and irresponsible spending promises, the Tories have a 30bn black hole.

http://www.theguardian.com/business/...plans-says-ifs

And this is entirely in line with the Tories well-known economic incompetence (see 3 million unemployed under Thatcher, Black Wednesday under John Major). The Tories are big spenders and they are addicted to tax rises on ordinary working people (like their massive hikes in VAT; Labour has never left VAT higher when it left office than when it started, the Tories have left VAT higher when they left office every time)

Between 1980-1997, the Tories averaged government spending annually of 43.5% of GDP.

From 1997-2010 (including the crisis and bank bailouts), Labour spending averaged 39.8% of GDP.

From 2010-2014, Tory spending averaged 44.6% of GDP.

Of course some Tories will make pathetic excuses and say it's all Labour's fault, but the figures speak for themselves. Take responsibility for your actions and your failure to rein in public spending. If this claimed increase in public spending is so unnecessary, then why are the Tories completely incapable of simply dropping the spending the year they take office?
This is why Tories/Labour/Liberals are all the same. They all want to engage in irresponsible spending, have a system of austerity, pro EU, pro immigration, pro cutting forces, pro Barnett formula...I could go on all day. I really do not see one bit how a vote for either of them makes a difference, they are practically one party- the establishment.
0
reply
Captain Haddock
Badges: 18
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#7
Report 7 years ago
#7
(Original post by LordMarmalade)
Due to their wild and irresponsible spending promises, the Tories have a 30bn black hole.

http://www.theguardian.com/business/...plans-says-ifs

And this is entirely in line with the Tories well-known economic incompetence (see 3 million unemployed under Thatcher, Black Wednesday under John Major). The Tories are big spenders and they are addicted to tax rises on ordinary working people (like their massive hikes in VAT; Labour has never left VAT higher when it left office than when it started, the Tories have left VAT higher when they left office every time)

Between 1980-1997, the Tories averaged government spending annually of 43.5% of GDP.

From 1997-2010 (including the crisis and bank bailouts), Labour spending averaged 39.8% of GDP.

From 2010-2014, Tory spending averaged 44.6% of GDP.

Of course some Tories will make pathetic excuses and say it's all Labour's fault, but the figures speak for themselves. Take responsibility for your actions and your failure to rein in public spending. If this claimed increase in public spending is so unnecessary, then why are the Tories completely incapable of simply dropping the spending the year they take office?
I'm not worried. I heard somewhere that the Tories have a long term economic plan.

Anyone else hear about that?

The 'long term economic plan'?

Pretty sure I remember hearing about it a couple of times. The long term economic plan, that is.

Y'know, just whispers here and there.

(I'm talking about whispers regarding the long term economic plan)

So yeah, I'm not worried. I'm confident that the Tories will follow through

on their

Long term

economic

plan





That I have heard about.
1
reply
joey11223
Badges: 20
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#8
Report 7 years ago
#8
(Original post by Captain Haddock)
I'm not worried. I heard somewhere that the Tories have a long term economic plan.

Anyone else hear about that?

The 'long term economic plan'?
Amen bro, people forget the long term tbh.

As I understand it the idea is that the mineral wealth from the asteroid mining business, with the UK having a lot of involvement (lol yeah right I can't even joke about that being true) , will allow us to reduce the deficit and potentially NOT have 100000+ more people queuing for food banks...potentially.
0
reply
StretfordEnd
Badges: 15
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#9
Report 7 years ago
#9
Talking of long term economic plan; for a party that traditionally advocates the primacy of the market and minimal state interference, doesn't discussion of a centrally planned economy seem a bit, well, socialist?

Planned economies, freezing rail prices, Euroscepticism, huge pre-election promises persumably funding by massive borrowing? Blue is the new (old) red!
1
reply
SeaPony
Badges: 2
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#10
Report 7 years ago
#10
You thought it was costed!? Ahahaha! We are talking establishment here.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest

Do you know what you'll do if you don't get the grades you're hoping for?

Find something else in clearing (40)
29.2%
Take a gap year (21)
15.33%
Resit my exams (37)
27.01%
Look for alternate pathways to the career I want (18)
13.14%
I don't know yet (15)
10.95%
Something else (tell us in the thread) (6)
4.38%

Watched Threads

View All