Wednesday, 2 May 2012

How Labour Wrecked our Economy

I have replicated an extract from an excellent article by cllr Judy Terry here because there are so many people who are still in denial about Labours debt legacy and as I have promised never to let people forget it, it is my duty to keep that promise

It is also a reminder to those Labour members closer to home, that wasting tax payers money is not acceptable, although I suspect that will fall on deaf ears. Having suffered nearly 20% increases in my council tax when they last had the administration, we really do not want that repeated in future years. But they do seem to think that the Magic Money Tree can just go on and on indefinitely.

I have also tried to inform people that the damage to the economy is not down to just bankers as they would have you believe and I am very pleased that Judy mentions this too.

So to the extract of Judy's article in the Ipswich flyer

In the absence of policies, Labour are accusing the Conservatives of not being in touch with ‘ordinary people'.-(A phrase which I find particularly patronising;).
Well, I can tell who’s in touch with the grass roots – and it‘s not Labour. The electorate’s biggest concern is the economy, and how it can be restored tc  financial probity. This means reducing debt to affordable levels or suffer the consequence of higher interest rates (affecting mortgages as national spending).
The damage Labour did to our economy during its 13 years in power, was highlighted in a recent article which offers shocking evidence of Labour’s gratituous build-up of debt, through a relentles state largesse, spending more than we realise in income, through taxation. Wars in Iraq, Afghanistan, and the banking crisis (to which Gordon Brown’s change from robust to lax scrutiny was a major contributor) had a pretty minor role in overall terms.
Between 2000 and 2010, allowing for inflation state expenditure increased by 53% to £688 billion (between 2002 and 2CC alone, it rose by 40%). Remember, this was the time when Gordon Brown was saying ‘no boom and bust’ as he trousered billions in tax receipts, whilst borrowing ever more, house prices literally went through the roof
For example, social security benefits and tax credits now account for £209 billion, comparable to health and education combined, allowing some families to claim more than £26,000 untaxed per annum in benefits. Is that fair when the average wage Suffolk is closer to £25,000, taxed?

No comments:

Post a Comment