Quote:
Originally Posted by Hugh
So, you blame Labour for the initial effects of the Global Financial Crisis, but the Conservatives get a free pass for the effects of COVID and the Ukraine War…
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Deficit figures: 2001/02 £5.5bn, 2002/03 £34.1bn, 2003/04 £41.7bn, 2004/05 £49.1bn, 2005/06 £44.2bn, 2006/07 £39.9bn, 2007/08 £45bn.
All before 2008 crash.
If the 2009/10 deficit of £157.7bn was purely down to the crash, then the deficit would've quickly dropped dramatically back to around £40+bn without austerity. It didn't, so there was massive Labour inbuilt excess spending.