Originally Posted by
Saracen
I love this one. The number of times I see Labour politicians ctiticise the Tories on the basis that the debt is rising, when that is exactly what every successive budget has predicted. It's inevitable, when you are running a stonking great deficit.
Of course, Labour prescience predicted stagnqtion and even recession, and what happened? Sufficiently high growth that even other doom-mongers, like the IMF, have had to acknowledge they got it wrong and revise their growth estimates up to match what happened? That's not to say growth has been great by historical standards, but worldwide economic circumstances are not typical of historical conditions either. Oh, and the millions of unemployed Labour predicted? Well, highest employment in many years, and record low unemployment.
What's holding us back? In large part, the deficit. And, of course, £50bn a year in interest payments on debt. Debt incurred, I might add, under 13 years of Labour and a Chancellor that never "spent" a penny, but "invested" huge amounts. If all that investment was so winderful that it justified incurring huge debt, AND all that 'off balance sheet' stuff he hid in ludicrously expensive PFI deals, where's the RoI?
So, Labour built up huge spending, like those aircraft carriers, and huge debt, and levels of spending on publuc services that we couldn't pay for. When the tories try to deficit-refuce, Labour oppose every move, then have the temerity to moan that the deficit hadn't dropped far enough and debt has gone up. Maybe if the Chief Secretary to the Treasury had left a note saying where the magic money tree they appear to have found is, judging by the wishlist of things they seem to want to do, on the fatuous notion that it can be paid for by taxing the rich and corporates, instead of a note saying "There's no money left".
But don't take my word for it that the burden won't fall on the rich and on companies. Read the IFS assessment of where the burden will fall.
As usual, Labour have a long list of "free" things they want to "give", and at best, an extremely optimistic view of how to pay for it all which, even if it worked out exactly as they predict, would STILL result in a dignificantky higher deficit, and debt level, than under Tory plans.
The problem is, as a country, we want relatively high levels of public services, but we don't want to admit that we'll have to significantly increase taxes, on just about everybody, to pay for it.
And that isn't just a blindness, or unwillingness to admit the truth by Labour. The Tories and LibDems suffer the same unwillingness to be straight with the people.
But the REALLY insidious thing? All major parties are pretending they can provide this grab-bag of freebies that everybody wants but doesn't want to pay for, and ignoring the simple truth that by spending money we don't have, we WILL, simply increase debt, and all that debt is is deferred taxation that young peopls will have to pay in the future, as if they haven't already been given the 'poopy' end of the stick.
There ain't no such thing as all these freebies, and if WE won't pay for them while we're benefitting from them, our kids will pay for them in the future. ... plus interest.
That's why I started the poll asking if people had decided who to vote for .... because I haven't. I don't believe ANY of them are being straight with us.