Vinegarandbrownpaper …. Taking your points as they came, in 1979 Labour passed to the Conservatives a lower income tax of 32%. higher income tax rates 60-80% if memory serves, the tax on unearned income (a buy to let?) was over 90% in the Pound, and Corporate Tax at 50p – and although they did not all fall in a straight line from 1979 to 1997, do your own homework what was PASSED BACK to Labour in 1997, but all substantially lower.
During the 1970’s, manufacturing/industry fell from around 29% of our economy annually to around 22% when Thatcher took over, and if Britain was in such great shaped prior to 1979, why did Labour call into the UK the IMF in 1976 to bail us out? The 22% of manufacturing/industry under the Conservatives remained at a similar level as the heavy manufacturing that was decimated BEFORE Thatcher came in, moved to more specialised industries e.g. optics.
Labour in 1997 inheriting a far more sustainable economy than the one passed to Thatcher in 1979, then took that 22-23% share of manufacturing the Conservatives passed over, AND (LABOUR) HANDED BACK an economy in 2010 with a 12% share of manufacturing, many jobs decimated BEFORE the crash began (see the 2005 link below)
www.independent.co.uk/news/business/news/million-factory-jobs-lost-under-labour-6150418.html
The problem was, while Brown was taxing higher and concentrating on ‘creating’ £170 billion worth of government quangos and local authority ‘non jobs’, he failed to REACT TO A HUGE PROBLEM OF A VERY STRONG POUND ON EXPORTERS, as he failed to react to tens of thousands of high street shops closing, by LOWERING taxes, as even in 2010 Labour were putting taxes on jobs UP.
www.telegraph.co.uk/news/politics/labour/7539343/Labours-planned-National-Insurance-increase-will-cost-jobs-Alistair-Darling-admits.html
You see Labour is INCAPABLE of helping businesses to create jobs, as seen in all their anti business rhetoric. Any Labour Miliband/Balls Murphy economic speech blurts out over 2 seconds ‘we need to create jobs’, then spends the rest of the time throwing out red meat to the faithful, telling core voters which businesses need ‘controls’ or will be taxed.
A government CANNOT tax an economy to sustainable growth, especially if funding a bloated Sate with the proceeds - but businesses know Labour will try.
As for multinationals buying UK companies (like Boots who were struggling with 70,000 plus employees in the UK), I’d say two things;
Firstly how many foreign companies are now owned by British companies, as it is a two way process?
And secondly, at least Boots jobs were secured with foreign money in 2006, back in the 1970’s, after a income/inflation/prices upward spiral around 20%, penal taxes and militant trade unions – there was SOD ALL LEFT FOR FOREIGNERS TO BUY, yet all those German and Japanese brand names back then, with none of the above, are still around – and this, with a decimated industrial base, was what Thatcher inherited from Labour.
en.wikipedia.org/wiki/Winter_of_Discontent
So for YOUR ‘extra points’; in 1979, 1997, 2010 and again in 2015, which party keeps handing over an economic train crash, and which one hands it back in far better shape than received??????