From 1997 to 2008 UK debt as a % of GDP actually went down.
Milliband just fails to convince either as a statesman or somebody worthy of high office, labour need somebody with a vision and the ability to get it across (somebody like Tony Blair, but look where that left us!), I think, with a real leader, Labour would and arguably could - despite their past record(s) - be way ahead in this election, instead they have in Ed Milliband the best asset the Conservatives could wish for!
It looks good when phrased like that. When phrased that Blair/Brown spent all the countries money then raided it's savings then sold off assets before finally breaking out the credit cards, things are a little different.
Buying £200 billion worth of bonds in 2009, which BoE estimates, in the cold light of hindsight, boosted economic output (GDP) by around 1.5%
http://www.bankofengland.co.uk/research/Documents/workingpapers/2012/wp443.pdf
I'll watch the QT when I get chance. I certainly do not owe it to myself to listen to Farage spouting nonsense for half an hour, I have better things to do.If you watched last night QT then you owe it to yourself to watch this too for balance if anything
It looks good when phrased like that. When phrased that Blair/Brown spent all the countries money then raided it's savings then sold off assets before finally breaking out the credit cards, things are a little different.
The problem though, is that it's a MASSIVE decision which if made wrong will have huge negative consequences and repercussions for our children's children. And at this point in time the people of the UK would almost certainly make the wrong decision because they have been brainwashed by the media for years to believe lies about things they don't understand.
For those that missed it, here's Nigel Farage's programme last night
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If you watched last night QT then you owe it to yourself to watch this too for balance if anything
Hindsight. I don't call that necessary spending, I call that luck.
Google will find you a graph within about 5 seconds.
Did Labour's social policy work? The answer is a pretty resounding yes, according to the LSE's definitive survey of the Blair-Brown years: "There is clear evidence that public spending worked, contrary to popular belief." Nor did Labour overspend. It inherited "a large deficit and high public sector debt", with spending "at a historic low" – 14th out of 15 in the EU. Labour spending increased considerably, but until the crash was still "unexceptional", either by historic UK standards or international ones. Until 2007 "national debt levels were lower than when Labour took office".
I'll watch the QT when I get chance. I certainly do not owe it to myself to listen to Farage spouting nonsense for half an hour, I have better things to do.
The thing I find funny is that Cameron actually has one of the best records of any leader in the continent, he should be sleepwalking this election against an opponent like Ed, however he's struggling and not even predicted to win.
If David Miliband was leader of Labour right now we would be predicting a Labour majority and a landslide victory on par with 1997.
Call it what you like, it was consistent with relevant economic theory and did exactly what it was intended to do. If only the EU had not been so blind to the issue, preferring to further contract liquidity by imposing further constraints on banks' capital requirements and, until recently realising their mistake and introducing QI, not having the political fortitude to do the same then we might not have seen such a lengthy recession for the Eurozone, and the knock on effect that has on the UK.
As you said, in hindsight. That to me is a gamble, whichever way you spin it.
As much as i hate Milliband and Clegg, i watch all opposition leaders, to shelter yourself like that is going to give yourself a myopic world view and is ultimately horribly closed minded. Are you scared that some of the things he might say makes sense and you might agree with? If you say no, how do you know if you don't watch? You can't, pure and simple