Quote:
Originally Posted by Osem
Labour were still buying votes and spending cash they didn't have.
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Unfortunately they were spending no more above receipts than Germany or France, less in fact, so that doesn't seem to work.
It also didn't seem too effective for the Conservatives. Despite their having run a structural deficit every year between 1979 and 1997.
I'm thinking Blair's success was partly due to the poor quality of the opposition.
Charts on debt-GDP ratios 97 - 2006:
Incidentally we still had a lower debt to GDP ratio than Germany or France in 2010, too, when debt consolidation actually began under Darling. It was accelerated in 2011, then backed off of again in 2013/14 to try and buy the 2015 election.