Helios wrote:I've annotated the graphs to help you understand what I'm saying, RB.
So please answer:
- When will Tories stop blaming Labour for everything? They've had seven years to fix it.
- How do you think the Tories will reduce the deficit and then bring down the debt when all they do is push their targets back?
- Why do you look up to people that earn money with successful businesses here (a good thing) and then hide it away overseas rather than pay full taxes here? (a bad thing)
1) The Tories will never stop blaming Labour and vice versa, that's politics. There is some truth to the blame though.
Going back to the graphs, excluding the 2008 crash, Labour were increasing borrowing long before the crash and although the debt graph increase during that time was shallow, it was significant and not sustainable over time. It's one of the reasons why we were hit quite hard by the crash, because our economy was seen by traders to be overstretched. A similar thing happened last week, when the pound dropped in unison with Labour becoming more likely to win, traders knew that a return to public spending if Labour won, would weaken our economy and they ran a mile from it.
2) The staggering amount of debt we are in will take decades to come down because we are essentially only paying off the interest as we have no money to pay more. I agree the Tories have missed targets but at least they have targets and aren't planning more borrowing and spending beyond their means. It sucks for everyone including me that we can't easily afford everything we need in this country but we can't just run up debt because it will be the young that voted for Labour that end up paying.
3) I don't but I'd rather have 50,000 millionaires paying some tax and spending their money into our economy than 5,000 millionaires paying 50%+ tax and 45,000 more Swiss millionaires paying nothing here.