Quote:
Originally Posted by jfman
It’s hardly a pointless re-run if it’s a detailed outcome vs the status quo. Not my thoughts, that was Jacob Rees-Mogg!
It’s our public services too that are suffering. The country was never in danger of “going bankrupt”, indeed other countries have in the past used public sector investment projects to drive growth in the economy.
The “our hard earned money” line is the oldest line in the neo-liberal capitalist handbook. It ignores that money moves round the economy driving demand and promoting growth. Doctors, nurses and teachers spend money in the economy.
Money sitting in offshore accounts doesn’t do any of this. It just sits waiting to be inherited, with no tax paid on it when that happens.
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Labour was borrowing way back in 2002, when the economy was supposedly doing well. They also deferred borrowing by using PFI on an epic scale. If the same levels of spending had been retained we would be borrowing more and more. Unsustainable.