Lilybolero ….. you are avoiding the question, “the one year consolidation” to 2011 when the crash was from late 2007, was what, other than Labour’s economic ‘smoke and mirrors’, waiting for 'something to turn up'?
WHERE WAS THE ECONOMIC GROWTH PLAN for the government of the day, to put the economy on a balanced and sustainable footing – you cannot borrow and tax an economy to growth when the structure of the economy is wrong?
Look at the definitions of ‘growth’ below, any fool of a government can borrow MORE money to achieve fools growth (paying more interest on top), sustaining the Quangocracy ‘growth’, YES the government spending £167 billion (Darling’s figure) more than we earn BUYS Ballsian ‘growf’, but when there is sod all else, when the money runs out, so does the ‘growf’.
Gross Domestic Product – Basic Definition.
www.investopedia.com/terms/g/gdp.asp
Private Consumption/Spending + Government Spending + Business capital Spending + Net Exports (Exports – Imports).
That is why when Osbourne took a UK debt junkie off the Labour borrowing ‘fix’ (and Europe slowed further), our GDP stalled, a £167 billion deficit buys more ‘government’ and ‘private consumption’ that the £108 billion deficit now, especially having increased the Public Sector head count by over 1 million since 1997 – in the Labour growth Ponzi Scheme.
www.bloomberg.com/news/2014-04-29/u-k-economic-growth-accelerates-to-0-8-as-recovery-broadens.html
www.bbc.co.uk/news/business-27177766
If a Labour government lose 1 million manufacturing jobs through a global boom (before the financial crash), when they’re spending hundreds of £million of ‘jobs for the apparatchiks’ government Quangocracies – how can you possibly think that they had a solution in a crisis, which would explain WHY WE NEVER SAW THEIR PLAN – which was to no doubt to excessively tax after 2010, as they did in 1997 when didn’t need to?
www.independent.co.uk/news/business/news/million-factory-jobs-lost-under-labour-6150418.html
Labour without a plan, laughed at the Conservatives saying Osbourne's Plan A would lose 1 million jobs, whereas with a more vibrant private sector the opposite was true.