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Record Debt
Former Member
Posts: 1,876,323 The Mix Honorary Guru
A great article on the myth about record debt.
1. In 17 years of power up to 1997, the Conservatives made net debt repayments in four years, totalling nearly £17bn. Since coming to power in 1997, Labour made net repayments in three years, totalling about £41bn. (A record!)
Praise be to Labour prudence, the Conservatives were rubbish.
2. In 1993, during the last recession, the Conservative government borrowed about £51bn. This year, Labour is expected to borrow about £64bn. (A record!)
All hail Conservative prudence, Labour are rubbish.
3. After World War II, the national debt was about £24bn. In September this year, after repeated Labour and Conservative governments, public sector net debt had reached about £645bn. (A record!)
They are all rubbish.
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Comments
when I saw the title of your thread I was just about to post that story
They do the same when talking about funding increases, just to stand still the NHS needs billions more each year so they can always say that they are increasing spending.
Then people say the UK has more debt than anywhere else?! waaahhh...? :eek2:
Of course, Labour sold off 400 tons of our gold reserve at around $340 an ounce while it hit around $760 per ounce in October. Prudence? I don't think so ... :eek2:
More personal debt. More people who own a home though too.
However, there is also things like PFI, which aren't debt, as the money isn't borrowed. But instead of debt repayments we are paying for contractual committments. Personally I think its a good idea, but it does make it difficult to compare against somewhere like Italy or Germany which don't do much PFI and instead borrow.
I have no idea, but if they do, then all this is no wonder!
You're totally right. I know fuck all about taxes, interest, mortages etc.
Pythagoras and his theory can fuck right off. I'm never gonna use that!
PFI was dreamt up to make the borrowing figures look better, in the main they are a more expensive way of the government borrowing.
I think that depends on your meaning of ownership. A mortgage is a debt.
Partially - it also transfers the risk from Government (who haven't a great track record of getting large capital projects to time and budget) to the private sector, who are generally much better. Government may pay 'rent', but this may be a lot cheaper than building it themselves.
Hmmm, that basically seems to admit that the government isnt to be trusted building a hospital because they are bound to get it wrong. So we should let a private company make a profit from us because at least they might do a decent job.
In a nutshell...
Though its because Government doesn't generally have people with the skills to do it, and that's probably a good thing.
(However private companies would be making a profit from us anyway. Given that the hospital wouldn't be built by civil servants but by a private sector contractor)
But why hasnt the government got the expert to do these projects properly, in terms of funding they must be one of the biggest developers in the country (if not the biggest).
Surely its not that hard to actually get civil servants who know their way around a building site and what it takes to pull off a major construction project?
yep, but then Govt have to pay commercial rates and have massive gaps when there expertise isn't needed. It's the same reason Govt pay for other specialist consultants.
So they can write the laws and guidance governing building and how it should be done, they just cant actually do it themselves?
Two different things - one is legislation, the other is major commercial project management
What do you mean by "commercial project management"?
I mean running a commercial project
Did or did not the labour party say things would only get better? Better for who, the RICH or the poor?
It does matter about the countries debt cause we all now at the end of the day we have to pay and bear the cost and brunt of all this.
As for who is responsible for this and that they are both held responsible for making the country into the way it is now.
How about the site.org party taking leadership of the world?
Would be interesting to see if anyone of us to make it any better?