Current Affairs The Labour Party
- Thread starter Number_25
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Thats not a fact, its a graph.
Mr. White
Player Valuation: £8m
It's a graph based on facts.
How can a forecast be facts please.
Here are some facts, without the made up figure at the end.
In 2005 the UK “current budget deficit” was less that £20 billion. But then came the worldwide financial crisis of 2008 and subsequent recession. The budget deficit skyrocketed to £50 billion in 2009 and £103 billion in 2010. In the subsequent recovery the deficit has steadily declined, down to £1.9 billion in 2018. At the end of March 2023 the “current budget deficit” was £87.40 billion.
In terms of Gross Domestic Product the UK “current budget deficit” in 2005 was less than 2 percent of GDP, and declined to about 0.6 percent GDP in 2007 and 2008. In the Great Recession the deficit ballooned, to 6.9 percent of GDP in 2010. Since then the deficit has steadily declined, to less than one percent GDP in 2017. At the end of March 2023 the “current budget deficit” was 3.5 percent of GDP.
By my reading the answer is 5 years. The Tories managed it in 89/90 and Labour managed it in 99/00/01. I'm not sure how it can be read showing Labour inheriting a surplus in '97 though, the deficit in the year ending 97 is about 3% according to that. Admittedly the trends do show it gradually dropping under the Tories and then growing under Labour.
It's a bit of an overblown point though because borrowing to invest in the country is completely normal and what responsible governments should be doing. Running a continual budget surplus and sitting on a mound of wealth like a dragon doesn't actually help anyone.
Mr. White
Player Valuation: £8m
It's a fact that the previous Labour governments are fricking useless at spending other peoples money...
Right-oh!
What is it with you gammons and the dots?
Mr. White
Player Valuation: £8m
What are 'Gammons'? And what are 'dots'?
You...
Thomasc
Formerly known as By God I'm Blue
HOW DID LABOUR LET THIS HAPPEN...
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