Labour party looks like 'shamefaced schoolboy'

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falkor
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Labour party looks like 'shamefaced schoolboy'

Post by falkor » Tue Aug 06, 2013 6:38 pm

http://www.itv.com/news/update/2013-08- ... schoolboy/ Ed Miliband is facing pressure from his own party to show a "compelling case" to the electorate on why Labour would be better for the UK.

In the face of Tory accusations that Labour was responsible for the economic mess, Labour MP Geraint Davies said the party looked like a "shamefaced schoolboy".

Writing in The Independent, Mr Davies said: "The party's challenge is to provide a compelling case as to why Britain would be better off with Labour.

"Firstly, the problem is that the electorate doesn't yet see a clear choice between the parties on cuts vs growth. Secondly, the Tories have been relentless in asserting that Labour messed up the economy.

:slcool: what do YOU think? :slby:

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Re: Labour party looks like 'shamefaced schoolboy'

Post by Arthur ASCII » Tue Aug 06, 2013 8:02 pm

Let's examine some of the Tory propaganda...

CLAIM 1 The last government left the biggest debt in the developed world.
After continuously stating the UK had the biggest debt in the world George Osborne admits to the Treasury Select Committee that he did not know the UK had the lowest debt in the G7? Watch: Also, confirmed by the OECD Those who use cash terms (instead of percentages) do so to scare, mislead and give half the story. Its common sense, in cash terms a millionaire's debt would be greater than most people. Therefore, the UK would have a higher debt and deficit than most countries because, we are the sixth largest economy. Hence, it’s laughable to compare UK's debt and deficit with Tuvalu's who only have a GDP/Income of £24 million whilst, the UK's income is £1.7 Trillion. Finally, Labour in 1997 inherited a debt of 42% of GDP. By the start of the global banking crises 2008 the debt had fallen to 35% - a near 22% reduction. Surprisingly, a debt of 42% was not seen as a major problem and yet at 35% the sky was falling down?

CLAIM 2 Labour created the biggest deficit in the developed world by overspending.
Firstly, the much banded about 2010 deficit of over 11% is false. This is the PSNB (total borrowings) and not the actual budget deficit which was -7.7% - OBR Economic and Fiscal Outlook March 2012 page 19 table 1.2 Secondly, in 1997 Labour inherited a deficit of 3.9% of GDP (not a balanced budget ) and by 2008 it had fallen to 2.1% - a reduction of a near 50% - Impressive! Hence, it's implausible and ludicrous to claim there was overspending. The deficit was then exacerbated by the global banking crises after 2008. See HM Treasury. Note, the 1994 deficit of near 8% haaaaaah! Thirdly, the IMF have also concluded the same. They reveal the UK experienced an increase in the deficit as result of a large loss in output/GDP caused by the global banking crisis and not even as result of the bank bailouts, fiscal stimulus and bringing forward of capital spending. It's basic economics: when output falls the deficit increases. Finally, the large loss in output occurred because the UK like the US have the biggest financial centres and as this was a global banking crises we suffered the most. Hence, the UK had the 2nd highest deficit in the G7 (Not The World) after the US and not as a result of overspending prior to and after 2008- as the IMF concur.

CLAIM 3 Gordon Brown was irresponsible when he sold off our gold reserves
Gordon Brown got the GOING RATE for the gold he sold, and used it to pay off our long standing Lend Lease debt to America, which had been a burden around the necks of the British tax payer since the early days of the WW2.

Now let's look at the Tory record...

Thatcher destroyed a complete industry (mining) in a decade, nationalised the utilities, the rail industry and gave us the council tax. She destroyed the trade union movement and as a result we now have people working for low pay in 'Mc Jobs' with poor conditions, zero hour contracts etc.

Thatcher wasted trillions of pounds of North Sea oil revenue by having to pay it out in the form of unemployment benefits to 3.5 million who she put onto the dole after selling off all our utilities, which are now costing every household a king’s ransom. She sold the country's silver and black gold and frittered it away. Now we have nothing, and make nothing that anyone wants. Most of what we eat, use and buy comes from abroad, thanks to her monetarism.

How anyone can say the Tories are the party of employment is beyond me, they put a half a million miners on the dole and had the audacity to tell them to 'get on their bikes' to look for work. The same is happening now to the public sector where people are getting laid off yet the private sector aren't taking up the slack as the government predicted.

Those that aren't being laid off are given pay freezes and yet nobody has the spine to fight the onslaught, I don't see the MP's or the wealthy taking a cut, do you ? The people need to organise themselves in unionised Labour and fight for fairness.

IMHO ;-)
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