Longtimelurker101 …. Re your questions below, the short answer re “rebutted” is absolutely not, as your effort to clean up Labour’s 13-year record, is frankly ignorant, bordering on the pathetic;
”Even if you talk about the economic crash of 2008 it can't be blamed on Labour, the deregulation that caused it happened in the big bang under thatcher in the 80s and once the regulation was gone the city and its pressure groups were never going to let it back.”
Yes the Big Bang happened under Thatcher, but so what, that has nothing to do with the U.S Sub Prime Mortgages that had been around since the 1930s, or in the 1997 when Brown’s deregulation of the UK banks (to mimic the U.S. repeal of the 1933 Glass-Steagall Act, why?) took sole banking regulation from the BoE and formed a regulatory tripartite that included the new FSA.
Brown admitted that he did not understand how interconnected global banking was since the growth of global investment banking - AFTER he allowed the massive growth if UK bank balance sheets lending to anything with a pulse from 1997 – providing with annual government budget deficit spending, the financial bubble tax receipts he built the UK fat public sector/welfare state upon, that once BURST, left all the expenditure but less taxes = 2010 £153 billion annual government budget deficit/overspend.
metro.co.uk/2011/04/11/gordon-brown-i-made-big-mistake-on-banks-before-financial-crisis-650630/
FSA says Labour leadership had encouraged it to take a 'light touch' on banks and must take share of blame for financial crisis
www.theguardian.com/business/2011/dec/12/labour-regulations-city-rbs-collapse
”In fact the deficit was lower on average between 1997 and 2008 than it was in any other time during the Thatcher or Major years, it only raised to solve the massive issues that the banking crisis had caused. BTW the solution that Brown and Darling came up with was employed by almost every other capitalist nation effected, and Brown's leadership was praised.”
In 1997 with the National debt at £400 billion, Brown (to gain economic credibility) accepted Conservative budgets that would FLATTEN the budget deficit from the 1991 recession by 2001/2, which it did.
But once we HAD balanced our expenditure/tax receipts, released from his pledge, Brown went on his spending spree, borrowing over £30 bil each year into the late 2007 financial crash, and passed over in 2010 an unbalanced economy full of Nation Debt of around £1 trillion.
As for ‘the Brown/Darling banking solution the world effected’ lololololololol, can you please tell me which major economies NATIONALISED THEIR LARGE BANKS in 2008, as it certainly wasn’t the U.S. as they had a different approach and their banks paid back every cent their owed a few years back – while the RBS etc equity Labour bought, is STILL how much below what we paid for it????
”The current Chancelor had his "omnishambles" budget and has raised the debt by more than all of the labour chancellors combined.”
So Labour with a balanced budget in 2001/2, leaves the Conservative an £153 billion annual budget deficit/ overspend, a totally unbalanced economy with a huge public sector/welfare state they built to fund – with not the first clue by May 2010 how to get the tax PAYING private sector out of the deepest recession in 80-years, to rehire all the jobs they’d lost - and increase pay rates for those still in work that had FALLEN in real terms from 2008/9 when Labour also lost around 7% of GDP/output.
www.dailymail.co.uk/news/article-3236690/Number-employed-state-falls-lowest-level-Second-World-War-pay-rises-fastes-rate-decade.html
www.independent.co.uk/news/business/news/million-factory-jobs-lost-under-labour-6150418.html
So is it any wonder that Osborne inheriting that unbalanced Labour economy/finances with not ONE POLICY in place to fix the budget deficit other than raise every ones taxes, could not balance the deficit in one parliament, as he also had to give tax cuts to companies, workers, pensioners totally left in Labour’s recession, to get us OUT of recession.
”Please, Please don't talk about economics or history if you don't actually get it. If you buy into the arguments put by the tories now, you really don't get either.”
So please can you peddle either your ignorance or propaganda on Labour’s banking, economic, and deficit record elsewhere???
”I think, thats your argument rebutted no?”
That would be a honking fat NO, but feel free to try again, this time with the facts.
P.S. Oh and don’t try to use 'smoke and mirror' measurements versus GDP for Labour’s record, because as we can see, Labour GDP was built of UNSUSTAINABLE government/company/personal debt, a financial bubble we don’t want back, and a huge public sector/welfare state - that was always going to collapse at the first recession.