The Conservative Party

[mosssideblue]

Looks to me that Labour doubled the national debt in the space of just three years, something which happened in 10 years under this government, with the pandemic pushing it higher after it had largely stabilised.

 

[Mr Kobayashi]

Looks to me that Labour doubled the national debt in the space of just three years, something which happened in 10 years under this government, with the pandemic pushing it higher after it had largely stabilised.

To bail out banks during a global banking crisis. Did they cause a global banking crisis?

 

[Brewster's millions]

I suggest you actually look at the chart.

 

[Phil1]

I suggest you actually look at the chart.

Whilst he does that I suggest you look at the track record of the useless cunts you bow down to over the last decade or so.

 

[johnnytapia]

Looks to me that Labour doubled the national debt in the space of just three years, something which happened in 10 years under this government, with the pandemic pushing it higher after it had largely stabilised

Looks to me that Labour doubled the national debt in the space of just three years, something which happened in 10 years under this government, with the pandemic pushing it higher after it had largely stabilised.

“Largely stabilised.” A euphemism for “we were steadily shite for a few years then we went really shite.”

 

[mosssideblue]

I suggest you actually look at the chart.

I have

 

[johnnytapia]

Is there anything this government has achieved during its time in office that you have thought that’s a great result and will fix this county because all I see is failure on a massive scale .

Reduced number of people seeing the dentist.

 

[Brewster's millions]

To bail out banks during a global banking crisis. Did they cause a global banking crisis?

That’s an interesting point, but unfortunately for yourself one that completely undermines your argument, and highlights your lack of knowledge on the issue.

The series shown in the chart is a measure of public debt which excludes the government’s interventions in the banking sector during the financial crisis. So it doesn’t actually reflect bailing out banks. If you did include the banking interventions, net debt would in fact rise from £500bn in 2005 to £2.2trn in 2008, i.e. a four-fold increase.

The deterioration under Labour happened well before the financial crisis, simply because public expenditure was too strong. But I suppose that details and facts aren’t really your thing.

 

[Mr Kobayashi]

That’s an interesting point, but unfortunately for yourself one that completely undermines your argument, and highlights your lack of knowledge on the issue.

The series shown in the chart is a measure of public debt which excludes the government’s interventions in the banking sector during the financial crisis. So it doesn’t actually reflect bailing out banks. If you did include the banking interventions, net debt would in fact rise from £500bn in 2005 to £2.2trn in 2008, i.e. a four-fold increase.

The deterioration under Labour happened well before the financial crisis, simply because public expenditure was too strong. But I suppose that details and facts aren’t really your thing.

I didn't bother to look at the graph you Austrian school lunatic.

 

[Brewster's millions]

“Largely stabilised.” A euphemism for “we were steadily shite for a few years then we went really shite.”

When the coalition government came to power in 2010, public sector borrowing was running at 10% of GDP per annum, and on a day to day basis, the government was spending 5 pounds for every 4 that it received in taxation.

The only way that the government could have avoided a run up in debt - in direct terms at least - is by immediately reducing day to day expenditure by 20% in nominal terms, effectively 25% in real terms.

Do you think that would have been a wise move, or do you think that it was better to reduce the deficit over a number of years, which meant that debt was always going to rise? That’s basically your two options.