Has Labour crashed the economy ?

[Dbank]

With recent news on GDP and job vacancies, do you think Labour's actions are about to trigger a recession?

I don't know why I bother engaging with these threads tbh.

If you genuinely think that Nigel Farage has the answer to anything then I feel sorry for you. You've been absolutely conned and he's laughing at people like you.

For the entire fives; but, hopefully, can't see them getting another term. But the potential extremism of what comes next as an over correction worries me

This, my employer has already removed some additional benefits and basically said none of us are getting pay rises in April, due to the sudden unexpected cost of employing us all.

My partner has been made redundant (retail but in head office) and there are no jobs. A large employer locally have made hundreds of redundancies in a similar industry to my DP.

I give it 6 months and we will likely both be unemployed - it’s grim

Perhaps the economic geniuses on here can tell us what the government should have been doing instead. More of the same as the Tories tried? That was going so well, wasn't it?

Nope. Think you will find that it was the Tories who crashed the economy.
I'm sure I heard somewhere that Liz Truss had something to do with it ?

This is very true ^

I mean having the fastest growing economy in the G7 under Rishi was, believe it or not, beneficial.

Labour were a mistake and no matter how hard Labour HQ tries to shout people down with accusations of 'Tory HQ' at every thread criticising the current government it won't change that. Mumsnet can be very out of step with the general population and is often politically tone-deaf. Let's face it, if the Tories did half of what Labour had done the boards would be overrun with threads about freezing nans and mass redundancies.

Waiting lists were at an all time low in 2010. The 4 hour target meant something.

Two periods of consecutive negative growth =recession.

Yep yep, it's coming home , it's coming home

Typical left wing echo chamber. I would like to know how the Labour voters think this budget will stimulate growth - especially now that most of us are a lot worse off, and business are going under because they can’t afford the higher employers NI contributions 🙄

As opposed to everything the tories did that stimulated growth?

@shockeditellyou

"After Gordon Brown I thought Labour should never be in power again, and were utterly incapable of sound government"

At the 2010 election there were a lot of voters saying "I'm voting Conservative because they can't do any worse than Labour ", except they did.

Then in 2024 there were a lot of voters saying "I'm voting Labour because they can't do any worse than the Conservatives ", except they will.

And so on....

You can't encourage businesses to grow by adding to their tax burden on employees.
You won't encourage more part time workers by making it very much more expensive to employ them.
I don't get the reasoning behind those decisions.
Why are we giving £50million aid to Syria. Now they have raided the Central Bank they are not short of money. Their is billions in gold and stuff that will be sold. There is millions in ready cash. £50million would help our hospitals or schools.

Have they crashed the economy, no. But they have damaged confidence in the economy.

@TheGrinchIsComingToTown

"As opposed to everything the tories did that stimulated growth?"

And I think this comment shows precisely what is wrong with UK politics.

"Your side is doing a bad job" "well yeah but your side didn't do much better/ worse when they were in charge " etc etc.

Just because someone screwed up in the past it doesn't make it perfectly legitimate or OK or advisable to screw up in the present.

What is this? a race to see which side can screw up the economy the most?

Yes, the UK is hurtling towards recession.

I just think it's insane to not acknowledge that Labour have to do this because of the mess the tories left us in

This is why people, are frustrated with the left again already. The quickest fall from grace of any incoming government with a majority this big. Bliar must be cringing! We all know the previous government was a shower of sh*t. This one was elected on many things. One of which was a manifesto pledge for us to have the fastest growth in the G7 during their term. At least, I think it was a pledge. It might now be a foundation, a milestone or a mission.

Six months in there is no hint of plan as to how this growth will be delivered, and no one I speak to from the far left, left, centre left or centre right can articulate what the governments plan is. MPs and ministers refuse to engage. Because there isn’t one as far as they can see. The governments actions have and will have a negative effect on growth. Jobs and investment in the private sector are being cut, pay is being frozen and money is leaving the country. That’s all fine, if it forms part of a clear plan that has other positive results for growth. But what is that plan. And why won’t they tell us. The logical conclusion is that there isn’t one. Unless you have heard differently.

Can’t be worse than the impact of Brexit.

@Tryingtokeepgoing because you think you can reverse 15 years of mismanagement if 6 months and suddenly guve people the biggest increase in GPD? And all this with Brexit in the way (actually getting worse since the latest Brexit restrictions now been implemented).

Being realistic helps. Wanting everything just right now is just toddler behaviour. Surely it makes sense that it will take time to change track? Unless you have a magic wand?

Wrong. The idea that a Labour have to do anything is a lie. Cutting wfa is a choice. They could make different ones.

@Herwoggle so the tories didn't create the mortgage crisis?

People focus on the WFA but when you take a step back and realise that millionaires were receiving it by virtue of their age, it's not all bad.

@TheGrinchIsComingToTown

"I just think it's insane to not acknowledge that Labour have to do this because of the mess the tories left us in"

But this makes no sense at all. It's like saying well my DH was a dick who burnt our house down south that makes it OK for me to now burn the next house down.

Yes let's acknowledge that Brexit and cutting the UK off from its biggest export market was a monumental act of economic self harm. Yes let's acknowledge that Liz Truss seeking to massively increase Government debt was economically insane and caused interest rates to rise.

But that doesn't now mean it's sound economics for Labour to reduce economic growth by taxing employers more or to keep interest rates higher than they otherwise would have been by borrowing more money.

The whole idea of Government is to try and make things better, not just as bad or worse and then justify this by saying well the other team did a really shit job as well.

Who would you like to tax more?