[Two Part Post]
Well I don’t know your circumstances, jno, but the last twelve years (and particularly the last seven) have not seen my fortunes rise and have not been treated in any way that I can describe as “fair”.
- The value of my investments (including my pension pot) has gone down the kharzi.
- The taxation I pay to the Exchequer under various guises has increased considerably.
- The value of my house has decreased by about 30%.
- The prices I pay for life’s necessities (particularly water, fuel, energy, transport, food and drink) have increased at a far greater rate than my income.
- The value of my £ has decreased by about 25% against most major currencies over the past two years.
Of course most of this is all due to the “global” financial crisis and was in no way brought about by twelve years of Labour incompetence. So let’s look at a few facts.
The pound has lost 14% against the Swedish Krona since 1998, 24% against the Chinese yuan, 33% against the Swiss Franc and 35% against the Japanese Yen (despite Japan itself having experienced some severe difficulties in the same period).
Compared to 1998 the FTSE 100 has dropped 12%. By contrast, among the other nations subject to the same global crisis, the French market shows a mere 1% decrease, whilst Germany shows a 12% profit, the US (where all this apparently started) also turned in a 12% increase on 1998 and Hong Kong a massive 77%. Britain’s budget deficit, at 13% is the highest in the G20 group, exceeding even Greece (recently described as a “basket case”, in need of a bail out, and whom Mr Brown gave advice on how to manage their affairs).