no hope, is there?

too thick to deduce who's debt we are still paying interest on ....

Labour left Britain broke?

Consider these facts - or refute them:-


(a) Major left a £355 billion Debt in 1997

(b) Wilson/Callaghan left £95 billion in 1979

(c) Since 2010, the Tories have increased the Debt by £1,000 billion


All so easily verifiable - and obvious who did the majority of the debt creation!

Isn't it obvious it is OUR debt, created by various governments (Tory, New Labour, Coalition).

In The Know wrote:
Debt interest is currently £41 billion a year


Broadly correct.

But, as you know (!), about one third of this figure goes back to the government - via the Bank of England, who provide a significant proportion of the Debt.

Current net interest on the Debt is about £30 billion - and the Debt is close to 90% of GDP, and expected to rise further.

JK2006 wrote:
Isn't it obvious it is OUR debt.

Yes - it IS OUR debt now ... unfortunately.

Several Labour governments have left debts for the following government to have to sort out.

Remember the note from Labour's outgoing Treasury Minister? "There's no money left"?

Sadly - they did leave their debts behind ... and we have been paying them off ever since, partly through borrowing (as our income did not cover our outgoings, so nothing remaining to pay the interest with).

Labour devalued the Pound in the 60s - making everyone in the country 20% worse off - overnight.

They had to call in the IMF to bail us out !

They inheritied a surplus (in 1997) by promising to keep the Tories spending plans (then managed to waste it all).

Their own figures - pre last election - admitted that the debt would soar to 1.4 trillion (it has gone up further since then
- and will increase each and every year UNTIL WE PAY OFF THE DEBT left by the LAST LABOUR GOVERNMENT).

The current interest figure is higher than the entire NHS wages bill ! (and will go on forever until we reduce the capital - not just pay the interest)

Who would EVER allow these loonies in government ever again?

Because you are unable to dispute/understand my figures - you have to ignore them.

Not all that long ago, you disputed - even the existence of - a growing Debt!

£2T, and rising...

Spee wrote:
Labour left Britain broke?

Consider these facts - or refute them:-


(a) Major left a £355 billion Debt in 1997

(b) Wilson/Callaghan left £95 billion in 1979

(c) Since 2010, the Tories have increased the Debt by £1,000 billion


All so easily verifiable - and obvious who did the majority of the debt creation!




ITK - why not say/type that you accept these figures, or not.

Could the Mrs help you understand things?

In The Know wrote:[/b[b]JK2006 wrote:
They inheritied a surplus in 1997

In that year, the National Debt (with Major) was £355 billion

No Tory budget surplus has been seen, for nearly 40 years

Unlike Labour...who were the only one to do it in recent years¡


On again to the mantra - loonies, bias, inaccurate statements/facts without links or ....

No hope with these delusional loonies, is there?

No wonder we have problems - allowing these people to vote and make decisions !

When Brexit goes horribly wrong they will again blame everyone else except themselves.

Please dispute any figure that I have posted...

They simply cannot understand the difference between a budget surplus / deficit and the National Debt !

No - I didn't think you could dispute anything! Figure are not your thing.

The £41 billion annual interest on the National Debt is the only one you regularly quote.

But, as already mentioned, even this is wrong.

As the Bank of England Asset Purchase facility (Quantitative Easing) now provides a large chunk of the Debt.

Interest received goes back to the government - leaving a net interest cost of £30 billion.

No wonder you don't talk about facts/figures...and seem unable to understand that the Tories more than doubled the Debt in 7 years!

www.nationaldebtclock.co.uk

Let's hope he's not doing Maths at school !

EVERYONE agrees that the cost of servicing Labour's debt is the cause of the borrowing and no one can explain where this borrowing has gone (ifr not to service Labour's debt).

After a period of financial restraint, from mid 1990s, (when the Tories were in control) public sector debt as a % of GDP fell to 29% of GDP by 2002 (Labour had been forced to promise to keep the Tories spending plans in 1997 in order to get elected - so they "benefitted" from the Tories fiscal policy).

From 2002 – 2007, national debt increased to 37% of GDP. This increase in debt levels occurred despite the long period of economic expansion; it was primarily due to the government’s decision to increase spending on health and education (see: Government spending in this period). There has also been a marked rise in social security spending.(surprise ! surprise ! A labour government = more dolers !

2008-2015 – public sector debt has increased sharply because of:

2008-13 recession (a Labour government again !) (lower tax receipts, higher spending on unemployment benefits) The recession particularly hit stamp duty (falling house prices) income tax and lower corporation tax.

These cyclical factors have also exposed an underlying structural deficit. (deficit caused by spending greater than tax, ignoring cyclical factors)
Financial bailout of Northern Rock, RBS, Lloyds and other banks.(caused by Labour offering "light touch" control of the banks)

From 2011-2015, the pace of increase in the public sector debt has slowed due to the government attempts to reduce the budget deficit (Coalition government). The government has announced strict spending limits.

all from - www.economicshelp.org/blog/334/uk-economy/uk-national-debt/

Would it help if we translated it into Swaheli ???
Maybe pictures would help??
A few drawings, perhaps?

Spee wrote:
No - I didn't think you could dispute anything! Figure are not your thing.

The £41 billion annual interest on the National Debt is the only one you regularly quote.

But, as already mentioned, even this is wrong.

As the Bank of England Asset Purchase facility (Quantitative Easing) now provides a large chunk of the Debt.

Interest received goes back to the government - leaving a net interest cost of £30 billion.

No wonder you don't talk about facts/figures...and seem unable to understand that the Tories more than doubled the Debt in 7 years!

www.nationaldebtclock.co.uk





Sadly it's like having a conversation with a waxwork dummy

They don't contradict anything either

Not only unable to provide links/evidence...ITK resorts to ridicule

To avoid the fact that the current Tories are the biggest borrowers ever


But - as Jack said - 'you can't handle the truth'....

Ridicule, and cut and paste¿!¡

In The Know wrote:
After a period of financial restraint, from mid 1990s, (when the Tories were in control) public sector debt as a % of GDP fell to 29% of GDP by 2002 (Labour had been forced to promise to keep the Tories spending plans in 1997 in order to get elected - so they "benefitted" from the Tories fiscal policy).

From 2002 – 2007, national debt increased to 37% of GDP. This increase in debt levels occurred despite the long period of economic expansion; it was primarily due to the government’s decision to increase spending on health and education (see: Government spending in this period). There has also been a marked rise in social security spending.(surprise ! surprise ! A labour government = more dolers !

2008-2015 – public sector debt has increased sharply because of:

2008-13 recession (a Labour government again !) (lower tax receipts, higher spending on unemployment benefits) The recession particularly hit stamp duty (falling house prices) income tax and lower corporation tax.

These cyclical factors have also exposed an underlying structural deficit. (deficit caused by spending greater than tax, ignoring cyclical factors)
Financial bailout of Northern Rock, RBS, Lloyds and other banks.(caused by Labour offering "light touch" control of the banks)

From 2011-2015, the pace of increase in the public sector debt has slowed due to the government attempts to reduce the budget deficit (Coalition government). The government has announced strict spending limits.

all from - www.economicshelp.org/blog/334/uk-economy/uk-national-debt/

Would it help if we translated it into Swaheli ???
Maybe pictures would help??
A few drawings, perhaps?

... perhaps if you took your socks off and used your toes to count?

Lets try one more time .....

In the late 1990s and early 2000s, the national debt dropped in relative terms, falling to 29% of GDP by 2002. In 1997, the Labour Government of Tony Blair had inherited a PSNCR of approximately £5 billion per annum, but by sticking to the parsimonious spending plans of the outgoing Conservative Government, this was gradually turned into a modest budget surplus. During the Spending Review of 2000, Labour began to pursue a looser fiscal policy, and by 2002 annual borrowing had reached £20 billion.

The national debt continued to increase, despite sustained economic growth, increasing to 37% of GDP in 2007. This was due to extra government borrowing, largely caused by increased spending on health, education, and social security benefits. Since 2008, when the British economy slowed sharply and fell into recession, the national debt has risen dramatically, mainly caused by increased spending on social security benefits, financial bailouts for banks, and a significant drop in receipts from stamp duty, corporate tax, and income tax.

all from en.wikipedia.org/wiki/United_Kingdom_nat...f_servicing_the_debt

so ...

1.national debt increased massively under the Labour government.

2. we have to service this debt (currently around £43 BILLION a year (more than the entire NHS wages bill).

3. we have to borrow to pay this interest (as incomings dont cover it)
- this extra borrowing is added to the National Debt.

hence - a massive increase in National Debt (all due to the last Labour government).

National Debt


- 1997... £355 billion, left by Tories

- 2010... £960 billion, left by Labour

- 2017... www.nationaldebtclock.co.uk ...increased by Tories


Verifiable facts; no cut and paste required...

Talk about "bury your head in the sand! !!!

no hope, is there?

come back when you get to A level Maths