hugh not stricktly true certainly not according to these figures.
ps thanks all explaining my comments.
http://www.ukpublicspending.co.uk/uk_national_debt
Debt only went up alarmingly after 2008 crisis.
Therefore the money was used to bail the banks and help elevaite the crisis looming.
Concervatives never complained oposition prior 2008 osborne actually said he would increased spending himself at the time.
The other is not spending is bad in itself but where it goes. If we aiming to build the bricks for the future, aiming to expand improve GPD then its not bad spending.
However seeing the figures suggest labour was not at fault.
The only thing blame concervatives was naive to listen that austerity was the right way to solve this crisis. Before people jump it dont mean going mad spending spree either.
The whole mess will go down in history for one big foulup of handling the economy. It was not rocket science what austerity would do without growth. those dumped on scrapheap either now unemployed statistic or part time workers. Either way less consuming from them. Then those businesses who lost publc sector contracts too on top people not spending. I really wonder at times these people who supposed to be bright cannot claim in hindsight we should done this and that. Banks take huge blame especially those in america for this mess.
It was clear economy was too weak that private sector was in no position to create the kind jobs to sustain the cull.
When all countries follow the same dumb ideolagy with threats from idiots like rating agencies, IMF european union. While allowing those same idiots to profagate by not paying taxes, hoarding, causing crisis. Worse have illusion that dropping taxes would create the mechinisms for job creation. That not forgetting the less taxes government now collecting it hit comes all together one big heap brown stuff that could been avoided.
We simply in mess for listening idiots who either had vested interest or jumped up loonies.
What was needed was cool heads not headless chicken panicky decisions. Ony seen one or two economist talk any sense sadly these not been the experts they listened too. As in our case it was used as vehicle to get policies in which sick but do naff all to help the situation. With powerful corruption behind the motives to make few very very rich by profiteering from contracts to do work for budies.
Only know we hearing shift to growth but again they not listening. We still looking creating the wrong growth here we talking about property boom the last thing we need right now is that which will bite us up the arse 10 years time.
We need not either credit boom either but solid growth in production so we become less reliant on the service sector.
One thing needs be asked to King/osborne where has the QE money gone. Did it goto the markets, businesses to create growth in production sector or did it find itself in property.
I dont trust either to sort and control QE.