To think that a lot of people have forgotten, or did not know, that..

[FelicityFlops]

When New Labour was elected in 1997, Chancellor Gordon Brown explicitly stated that the economy, i.e. what they had inherited in fiscal terms, was in a very good state and he had no plans to change this.
Cue massive increases in public spending and selling off the UK's gold reserves.
Happy to be corrected on this, but is this not where the economic downturn started and the rise of dependency on benefits began?
Or, in very simplistic terms, if you inherit a sum of money and some assets, you spend them instead of conserving them or using them to promote future welfare?

Yeah, right🙄

And?

I'm pretty sure that if you are trying to say Labour "ruined" the economy that John Major left, it's apples and oranges as there are few who could make the Boris Johnson/Liz Truss/whatever the hell this is now any worse.

For goodness sake 🙄

Wasn't there a worldwide crash though started off by banks in Iceland? Can't remember the details but I'm pretty sure that was the main issue, not GB?

I’m confused, are you saying the reason the economy is in the toilet today is the due to a government who haven’t been in power for 12 years?

It was a global financial crisis. This one is also global, but obviously our Government has made very poor decisions and made it much worse (eg funnelling money into contracts for their mates, the Brexit referendum, Trussonomics, I'm sure you know the rest)

They'd blame the Labour government of 1948 for forming the NHS if they could!

en.m.wikipedia.org/wiki/Sale_of_UK_gold_reserves,_1999%E2%80%932002

Would have been better if you'd posted actual facts. Some people criticise the plan, some thought it was a good thing. It did enable the reduction of the national debt and interest payments. It wasn't all the gold either.

Whereas this government (not including covid) had resulted in increasing the national debt, increasing interest payments and rampant inflation because they decided to make their internal squabble spread like a virus across the whole country and making some really stupid decisions.

This has increased my shopping bill and my mortgage. So forgive me for thinking that your post is ridiculous

And let's not forget the 'joke' note, that was actually the truth: www.theguardian.com/politics/2010/may/17/liam-byrne-note-successor]]

Or that Rishi Sunak, on his first look at Govt finances said 'When I left the Treasury there was a £30 billion surplus. Where is it?'

theconversation.com/fact-check-did-labour-overspend-and-leave-a-deficit-that-was-out-of-control-41118

This is more balanced and takes account of the 'joke note'.

IT'S ALL CORBYN'S FAULT

Looks like it, yeah. 🙄

🤣

Came to say this but you got there first 🤣

You were happy to be corrected. And you have been. Hope that helps

How long can people go on blaming the last labour govt? This country is on its knees because of the tories!!

it's such a typical Tory narrative - refusing to accept that any of the economic issues they inherited TWELVE YEARS AGO where due to a global economic collapse - but were all Labours fault - while simultaneously blaming everything - Covid, Labour, war, Brexit - (oh no hang on Brexit is a resounding success) - but their own ineptitude for the current crisis.

12 year they have been in power - time to stop pulling the 'we spent all the money' card and take some responsibility.

OP you are getting dull now.

I'm not saying that the economic hole we're in now is due to Labour 12 years ago, but they did the usual Labour thing of spending a whole shitload of money. The hole we're in now is, I'm guessing, largely due to the vast amounts of money spent wasted during the pandemic.

Light blue touchpaper and retire - OP bonfire night was last night

Oh don't be ridiculous. Do you think the Tories would have somehow prevented the global economic collapse?

www.ukpublicspending.co.uk/uk_national_deficit_analysis

Thatcher started the deficit after not really having one for a while, Major made it bigger (considerably), the Blair reduced it. It got bigger in 2010 after the GLOBAL crash. Which I think we'd all agree was rather out of their hands like Covid (although how the conservatives spent money with no oversight was ridiculous - do have a look at the graphs)

I have always thought that it was Gordon Brown thst was really holding Boris Johnson back. If only Gordon hadn’t had so much power over him Boris would have been an exemplary PM

Tory social media bots gotta earn their pay somehow. Hope your pay isn't performance related though because this is just plain old weak.

The Conservatives have been in power for twelve years. That is more than enough time for them to have "fixed" any problems caused by the previous government.