Vote Labour? Right Oh!

[ToraToraTora]

https://ibb.co/YNLPJW9

 

[Gromit]

It was £2.6Tr last August when that Statista report was published. The change in colour on the bar chart is when the figure becomes a projection not an actual recorded figure. Since August the amount has gone up £5K every second thereafter. The figure now is...

https://www.nationaldebtclock.co.uk

[THECORBYLOON]

The latest official figures from the ONS show it is £3.1 trillion.

"This month we have received balance sheet data covering the period July to December 2023 for the first time, enabling us to update previous estimates of the inclusive measure of public sector net cash requirement (PSNCR) and debt (PSND). Further, our own estimates covering the period January 2024 to date have been updated to reflect this new information. As a result of receiving these data, our estimate of PSND at the end of March 2024 has increased by £13.4 billion to £3.1 trillion."

[ToraToraTora]

09:46 ok well we have an excuse what is Labour's excuse for over doubling it betwee 1997 and 2010?

...and how do you explain it going up to 250% of GDP under Labour in 1950? ( I do know but do you?)

[Untitled]

"ok well we have an excuse what is Labour's excuse for over doubling it betwee 1997 and 2010?"

the 2008 crisis and subsequent bailout of the banking industry

[ToraToraTora]

I was thinking more of the £400bn printed to pay people to sit on their April during our massive overreaction to the pandemic.

[Untitled]

the conservatives also significantly increased borrowing before covid and did so to a far greater extent than new labour so that's not the whole story either

https://www.ukpublicspending.co.uk/uk_national_debt_analysis?show=n

[dave50]

I would have thought the labour supporters on here would be all in favour of high spending and borrowing cos that's what labour does.

 

[Gromit]

TTT,

You are quick to remind us that Labour doubled our debts from £500 billion to £1 Trillion.  
Yet you only make exuses for the Conservatives borrowing an addition £2 Trillion since coming to power.

Both parties records' are as bad as each other. The Conservatives are no better at not borrowing than Labour, and may be worse.

[ToraToraTora]

I have an explanation for the rise in borrowing. You do not appear to have one for when Labour did it.

[Gromit]

I did not answer because others did so.  
The world Financial Crash of 2008 was similar to the Pandemic. It was something out of our control, was very costly to remedy, and the Government borrowed hugely to dampen its effects on the general population. Labour saved many of the UK banks by buying part of the businesses. That took lots of borrowed money. They bought assets that could later be sold when the banks became profitable again. It gave Sunak as Chancellor windfall money which he sadly squanded. The Conservatives were in a similar position, they had to borrow to ameliorate to effects of the pandemic. But there will be no windfall for Labour, the Tories splashed the borrowed money to their friends, who then supplied substandard PPE that was unusable and is now rotting in a landfill site somewhere.

[Gromit]

True, borrowing increased slightly before the 2008 world financial crash, but sky rocketed afterwards because we needed to save the banks. Something out of Labour's control but they had to do it. And paid electorally in 2010. As will the Tories next month.

[Untitled]

the tories significantly increased borrowing long before covid. 
 

i do not necessarily have an issue with borrowing per se but if that's an important issue to you then the conservatives have a much worse record and that is an objective fact. as usual however tories must resort to lies because reality is biased against them