The Conservative Party

Ban-jani said:
Deficit and debt should be looked at completely differently, can we clear that up?
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Yes. The Tories almost eradicated the deficit in 2015. It's now at 40bn and the ONS reckon it will be 50bn by April. Quite the rise for the party of prudence whilst nearly doubling the debt.
 
jay_mcfc said:
Yes. The Tories almost eradicated the deficit in 2015. It's now at 40bn and the ONS reckon it will be 50bn by April. Quite the rise for the party of prudence whilst nearly doubling the debt.
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I’m not defending the Tories, just making the point that we need to clear up the difference between deficit and debt.
 
Chippy_boy said:
Ah another one. Is there no end of people who do not understand that increasing debt is a function a the deficit.

NECESSARILY, according to your figures, the debt in 2011 would have been circa £1.1bn (£1bn + £103m). Who's fault would that have been? The Tories who inherited the £103bn deficit? Or Labour who handed it to them? Labour of course.

You cannot hand to someone else, the wheel of a car speeding at 100 mph down the wrong road. And then blame THEM for being 200m further down the road than you wanted to be.

And BTW is was nearer £150bn when Labour handed it over.
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We continually explain this to folk on here, but it never sinks in.
 
jay_mcfc said:
Oh we understand alright. We heard it a lot in 2015 when the deficit was cut to less than 2 billion.

4 years and 40 billion later, without the reason of a global financial crisis, the Conservatives can eat it.
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If you understand it, why did you post figures that suggest you don't?
If you've now realised this, fine, and if the debt is now up to £40 billion,from £2 billion that can be debated.
 
Ancient Citizen said:
We continually explain this to folk on here, but it never sinks in.
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It seems Len still doesn't get it after 56 goes at explaining it. Either that or he like sticking his head above the parapet and getting it shot at, or else he wouldn't have "liked" the erroneous post.
 
jay_mcfc said:
Oh we understand alright. We heard it a lot in 2015 when the deficit was cut to less than 2 billion.

4 years and 40 billion later, without the reason of a global financial crisis, the Conservatives can eat it.
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Sorry but you're talking crap. The deficit was never £2bn in 2015, it was more like £80bn:

In the calendar year 2015, the UK government deficit was £81.7 billion, equivalent to 4.4% of GDP; a decrease of £23.4 billion compared with 2014. This represents the lowest annual deficit (as a percentage of GDP) since the calendar year 2007 when it was 2.9% of GDP (£44.5 billion).​

https://www.ons.gov.uk/economy/gove...debtanddeficitforeurostatmaast/julytosept2016

Here's how the Tories have been reducing the deficit:

http%3A%2F%2Fcom.ft.imagepublish.upp-prod-eu.s3.amazonaws.com%2F654ab9a4-7538-11e8-aa31-31da4279a601


Note the crock of crap they were handed, and what we've spent the last 10 years trying to sort out.
 
Chippy_boy said:
Sorry but you're talking crap. The deficit was never £2bn in 2015, it was more like £80bn:

In the calendar year 2015, the UK government deficit was £81.7 billion, equivalent to 4.4% of GDP; a decrease of £23.4 billion compared with 2014. This represents the lowest annual deficit (as a percentage of GDP) since the calendar year 2007 when it was 2.9% of GDP (£44.5 billion).​

https://www.ons.gov.uk/economy/gove...debtanddeficitforeurostatmaast/julytosept2016

Here's how the Tories have been reducing the deficit:

http%3A%2F%2Fcom.ft.imagepublish.upp-prod-eu.s3.amazonaws.com%2F654ab9a4-7538-11e8-aa31-31da4279a601


Note the crock of crap they were handed, and what we've spent the last 10 years trying to sort out.
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ONS....fake news ;-)
 
Chippy_boy said:
Sorry but you're talking crap. The deficit was never £2bn in 2015, it was more like £80bn:

In the calendar year 2015, the UK government deficit was £81.7 billion, equivalent to 4.4% of GDP; a decrease of £23.4 billion compared with 2014. This represents the lowest annual deficit (as a percentage of GDP) since the calendar year 2007 when it was 2.9% of GDP (£44.5 billion).​

https://www.ons.gov.uk/economy/gove...debtanddeficitforeurostatmaast/julytosept2016

Here's how the Tories have been reducing the deficit:

http%3A%2F%2Fcom.ft.imagepublish.upp-prod-eu.s3.amazonaws.com%2F654ab9a4-7538-11e8-aa31-31da4279a601


Note the crock of crap they were handed, and what we've spent the last 10 years trying to sort out.
Click to expand...

Aye fair enough, I overestimated how well the Tories did to get the deficit down in 2015, a mere £80bn after promising to abolish it completely. The point remains this year though, already up over £40bn and expected to be £50bn by the end.

Thanks for the graph, though. Conclusive proof that the problems were caused by the global crash rather than a decade plus of Labour.
 
jay_mcfc said:
Aye fair enough, I overestimated how well the Tories did to get the deficit down in 2015, a mere £80bn after promising to abolish it completely. The point remains this year though, already up over £40bn and expected to be £50bn by the end.

Thanks for the graph, though. Conclusive proof that the problems were caused by the global crash rather than a decade plus of Labour.
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Well three things.

1. WTF were Labour doing running a persistent deficit throughout a period of very strong worldwide (and UK) growth from 2002 to 2007? Fucking madness. If they couldn't get the deficit under control in times of plenty, they were NEVER going to get it under control.

2. And this mismanagement of the economy was from one of the most economically prudent Labour parties we've seen in the last 50 years. The hard left Labour governments have all been much worse.

3. According to the ONS, the deficit for the year ending March 2019 was was £25.5 billion, equivalent to 1.2% of GDP

In summary, you're still talking crap.

uk-budget-deficit-changes-sept-24.png
 
Chippy_boy said:
Well three things.

1. WTF were Labour doing running a persistent deficit throughout a period of very strong worldwide (and UK) growth from 2002 to 2007? Fucking madness. If they couldn't get the deficit under control in times of plenty, they were NEVER going to get it under control.

2. And this mismanagement of the economy was from one of the most economically prudent Labour parties we've seen in the last 50 years. The hard left Labour governments have all been much worse.

3. According to the ONS, the deficit for the year ending March 2019 was was £25.5 billion, equivalent to 1.2% of GDP

In summary, you're still talking crap.

uk-budget-deficit-changes-sept-24.png
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1- Your own graph shows the Cons early 90's as running a similar or worse deficit to most of the Blair years. Labour invested in the welfare state and public funding. Some deficit is controlable and acceptable, as John Major shows.

2- Yawn.

3- Keep up to date, March is old news.

https://www.bbc.com/news/business-50137772
https://www.independent.co.uk/news/...pound-euro-dollar-boris-johnson-a9165971.html
 
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