Wednesday, October 20, 2010

"We Are All In This Together" - Correction of the Tory Lies!

Time to state some home truths.

Government Borrowing.

In 1997 when Labour came to power GDP (National Income) was running at 40%. By 1999 GDP had fallen to 37%, a drop of 3%. Then the investment in the National Health Service began and by 2005, GDP had risen to 41%.
This meant when the sun was shining, not only did the labour party fix the roofs in the leaking classrooms and the decrepit run down hospitals, they actually refurbished and built new schools, new hospitals.
Then came the banking crisis and the GLOBAL financial recession and in 2008 to 2010, GDP rose to 48%.
The labour government did NOT overspend and were NOT  guilty profligation, half the money spent went on public services and saving the NHS from the parlous condition the previous 19 years of Tory rule left it, it was spent on education and education improved rapidly, it was spent on new schools and the other half was spent on getting this country through the deepest global recession for 80 years.

The City under the guise of the British Chamber of Commerce has an utter cheek accusing the labour government of profligacy, when it was the city that got this country in this mess in the first place and the money spent was mainly helping the city and bailing out the banks, preventing them from going bust, if the labour government had not acted it would have meant that businesses, jobs, homes, savings and pensions would have all been lost and the suffering immense!

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