Tuesday, November 25, 2008

Labour's debt binge - the Truth about 10 years

I keep hearing Labour ministers talking about reducing debt over Labour first ten years.

You know what ? It true ! But its very, very misleading. Most people would describe it as lying. It is certainly misleading.

Why do they say they reduced debt for the first ten years so often ? The answer is they are trying to hide the spending ( fuelled by borrowing in the economy and caused by a binge in the public sector ).

See the graph from the National Statistics Office record which I have annotated below (source here ):

I think most people on looking at that graph - published by the independent National Statistics Office - on hearing Labour ministers talk about reducing debt over 10 years and looking at the graph most people would say Labour are trying to persuade people of something that is not true.

Odd that I haven't heard any BBC commentators pick up Labour ministers ( Yvette Cooper on Newsnight last night, Alistair Darling on radio 4's Today this morning ).

The truth is that Conservative spending plans were adopted for the first two years of New Labour - so the Conservatives take the credit for those years and then Gordon Brown believing he had abolished Boom and Bust failed to fix the roof whilst the sun shined.

Every time you hear this for of misleading boast from Labour make sure they are made to eat their words. The problem with Conservative politicians sometimes is they don't counter these Meme's and spin from Labour with anywhere near the vigor and determination that is needed.


Letters From A Tory said...

I fear that such discussions, while plainly true, are a bit too technical for most of the voters.

Man in a Shed said...

I'm not so sure. Look at their eagle eyed interest in the Lottery and Strictly come dancing.

I think the Westminster village may severely underestimate how angry people will get about the Labour govt borrowing vast sums of money for its political gamble.

Labour clearly consider its worth giving the impression of a downward trend for 10 years.

rugfish said...

What I have difficulty with is the lack of any argument over government 'planned' spending. To name a couple, ID cards, NHS computer, Aircraft carriers, etc and also the foreign aid Brown gives away, plus of course the EU rebate given away by Blair. All these things added together and then shot into tax reductions would by themselves ignite our economy without any cost if they were SCRAPPED.

I can understand the graph I just don't believe the government, so in my case, easy to understand why's and what for's are more likely to find gravitas with the electorate.