Quote:
Originally Posted by dazzer89
Where Labour got it right was the investment in health and education, that is what I pay my taxes for and as a resident of Notts, I saw at first hand this investment in terms of state of the art facilities, a fantastic new hospital and numerous new schools two of which both my children attended (partially as a result of this, Tom, my eldest, achieved an A* in Maths in year 9). In fact, if the truth were known, there is little the Labour government did that I strongly objected to - maybe you could make a case for slightly excessive spending, but in truth the country needed it, we needed improved roads, improved rail, improved schools and improved hospitals - that's what we got. Now we have a Conservative government, I do agree they have inherited a pretty crap situation, but they are going about it completely the wrong way, they are making political decisions on an economic issue, they are cutting too hard too soon in the hope that by the time the next election comes along things will look better.
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Taxes were increased by 25% and it still didn't even come close to covering what they spent, this ignoring that a large part of those new hospitals and schools are both costing too much and have been built on credit in the form of PFI.
It's odd that reducing spending is a political decision while increasing it wasn't in any way political. Labour created the client state and have changed the country for the foreseeable future into a high tax, high spending economy.
Even with these cuts we'll still be taxing and spending 25% than before Labour. They tried funding their spending through total mismanagement of the economy, their main contribution to it being huge expansion of the public sector.
They did some things I'm quite a big fan of, mortgaging the country so that they could say 'Look at how much we're spending' and creating a client state removing many individual responsibilities and moving them into the realms of a bureaucratic state wasn't one of them.
---------- Post added at 13:46 ---------- Previous post was at 13:43 ----------
Quote:
Originally Posted by Maggy J
This is what is puzzling me..I'm getting so many leaflets from so many differing sources(banks) exhorting me to take out loans or get a credit card and yet all we hear is that the banks are not loaning enough money.
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Look at the interest rate they want for that loan or credit card, compare it to their savings rates.