So how it was is mostly not how it is remembered or described. The Conservative statements on Labour’s record referring to ‘Labour Profligacy’ (many factually wrong) trumped Labour’s poor/defensive statements defending it. The misrepresentations are of course repeated indefinitely – for example see Mail on Sunday, 9 July, 2017, p12 by Simon Walters: “reckless Labour… Read More »
Much is made of the letter left by Liam Byrne, chief secretary to the Treasury in 2010 saying “I’m afraid there is no money”. It was a poor joke. Since the setting up of the equivalent of the Bank of England just before 1700 there has never been any money in the kitty, the country… Read More »
Previously I looked at the media presentation of Labour’s role in the financial crisis, now lets have a look at the evidence for Labour Profligacy. Chart D.13t The debt during the Labour administration 1997-2008 (pre-crisis) was less that that under conservative governments after 1980 except for a few years around 1990. By 2008 the debt… Read More »
It is old news that Labour ran up debt and so ran the economy poorly during the 2000’s. The Conservative Party view of events is described quite well in this telegraph article – essentially it was all Labour’s fault, a result of Labour Profligacy, “they spent too much, borrowed too much and left the Coalition… Read More »