AllThePrettySeahorses ……. Part 2.
The Economy
Taking your earlier quotes one by one.
” The coalition has spent most of its term in recession (remember that triple/quadruple dip that Gidiot is on record as denying ever happened?)”
Are you aware that technically a recession is two negative quarters of GDP, so technically two GDP figures of MINUS 0.1%, is a recession? Well please look it up, the UK had one recession, it lasted from the 2nd qtr of 2008 to the 3rd qtr of 2009, UNDER LABOUR, and GDP output FELL around 7.0%, not 0.7%, a honking great 7.0%.
The UK, similar to France now did ‘flatline’ close to a recession for a few years, as Osborne was swapping Labour’s unsustainable public sector GDP growf for a coalition policy revitalized private sector growth economy – but as a high tax, fat government France shows now, Labour’s ‘lets wait for something to turn up’, was doomed to failure due to their obviously (to anyone with half an economic brain) flawed economic model.
”with borrowing sky high while the debt and deficit grew and grew.”
Why wouldn’t this happen under the Coalition, when Labour passed them an unbalanced economy full of public sector fixed costs, a £157 bil annual overspend and the accumulating National Debt already at £1.1 trillion?
For this trend to be broken, the Coalition would have had to cut an annual £157 billion from DAY 1, which far from being practical, the Labour government having sat in Westminster hoping the problems would go away, had no budget plans in place to REDUCE the overspend – yet pathetically opposed ever cut to their £157 billion overspend, blaming the coalition for cutting spending for cheap political points.
”Add to this falling wages and rampant unemployment/underemployment”
Wages in real terms, for those still in a job thanks to Labour’s deeper recession than elsewhere, was falling from 2008, the biggest drop from 2009 to 2011, who’s only ‘help’ was to take away the 10p tax rate and put up National Insurance to workers and companies, in effect, ‘a tax on jobs’.
www.theguardian.com/business/2015/jan/30/british-wage-slump-post-financial-crisis-uk
‘Rampant unemployment’ has seen over 2.7 million new private sector jobs since 2010 and far fewer fat government public sector jobs = a rebalancing of the economy to a more sustainable basis, that pathetic Labour would like the public to believe are all zero hours or minimum wage, despite the FACTS to the contrary.
” Before the global crash, there was a surplus which would have carried on to the 2010 election”
I will ask you AGAIN, in which year(s) did Labour/Brown have an annual surplus (paying down our national debt) and better preparing a lop-sided fat government UK economy through the ”global” crash???
”In 1997, Labour inherited an unnecessary, inexcusable deficit”
Recessions, as you clearly fail to understand, are not over coz we want them to be, especially if businesses/manufacturing closes down, they take time and policies to correct, especially if our main trading partners are also in recession as they were from the early 1990’s recession – so when tax receipts are falling, the government ‘automatic stabalisers’ kick in – increasing the annual budget deficit. Dah.
www.economicshelp.org/blog/glossary/automatic-stabilisers/
Labour inherited a 1997 balanced economy, with the annual budget deficit BUDGETED through tight spending, to go into SURPLUS early in the 2000’s, as it did – just in time for Brown to go on a spending splurge to wreck all the good work done, just as Miliband will in 2015. And it takes something ‘special’ for a Labour Party, administration after administration, to wreck an economy so consistently.
When WAS the last time Labour pass back to the Conservatives a better economy than the one they inherited for the Conservatives??
Answer that and any of the above with qualified facts, rather than false Labour election soundbites of blame we hear every day by their MPs and apologists, please.
More …..