Quote:
Originally Posted by heero_yuy
Now you know full well that that is not a valid comparison: The sky high interest rate under Major was due to the almost suicidal attempt to stay in the snake, the predecessor of the Euro, and was only temporary. Unlike the economic failure under Calaghan that had us going begging, cap in hand, to the IMF for a bailout worth £8bn in todays money to prevent the country going bankrupt as no one else would loan us anything as "The sick man of Europe" couldn't pay it's debts.
I'll get my tin foil hat out.  |
Labour's capacity to mismanage the economy is legendary and it's always been others who've had to pick up the pieces and do the dirty work to get things back on track. It wasn't the Tories who let the banking sector run riot, it was a certain G. Brown.
Even now we're having to pay £billions in interest every year on the massive debts accrued on their watch and if Brown had won in 2010, they'd have faced the very same problem rather than the coalition, then and the Tories now.