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Originally Posted by Damien
Kind of confused by that metic? Surely the reason the Conservatives have borrowed more is because the deficit still exists and, especially after 2008, it would have been especially high and you need additional borrowing to cover it. The Tories have reduced the deficit.
What are you measuring against when you compare the borrowing vs GDP? Is that the total debt as of now? GDP fluctuates so if we were to hit a recession tomorrow that 40% would instantly shoot up without the Government haven, yet, taken additional borrowing.
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I agree with the fluctuations taking in to account inflation going either up or down.
I am trying to find the source that I have seen the figures I posted above, the 70% and 40% total borrowing vs all the years of a Labour government vs. current Tory in last 7 years...
http://www.bbc.co.uk/news/election-2017-39999460
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The claim: The governments since 2010 have borrowed more than all the Labour governments in history.
Reality Check verdict: That's true in cash terms but not when you take into account the growing economy.
Among the more eye-catching claims of the campaign so far has been Jeremy Corbyn's repeated assertion that the Conservative-led governments since 2010 have borrowed more money than all Labour governments in history.
<Snip>
The simplest way to examine this claim is to compare the amounts in cash terms, add up the amounts borrowed by all Labour governments and compare the total with the amount borrowed since 2010.
By this calculation, the combined Labour governments borrowed a little more than £500bn over their 33 years while the governments since 2010 have borrowed a bit more than £670bn.
So a better comparison to make is government borrowing as a proportion of GDP, which is a measure of everything produced in the economy.
By that measure it turns out that all Labour governments borrowed about 70% of GDP while the governments since 2010 borrowed about 40% of GDP, which is a very different picture.
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