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Re: National Budget 2026
Quote:
Originally Posted by nomadking
Labour doubled the debt before 2008.
After 2020, the deficit WAS going down, until covid.
The problem with temporary freebies is that people endlessly whinge when they stop. Eg After the covid freebies ended.
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Labour didn’t double the debt or deficit before 2008 - in 2008, the debt increased due to the world-wide Financial Crisis caused by the banks.
1997 - deficit 3.0%, debt 37.4%
2007 - deficit 2.8%, debt 36.2%
2008 - deficit 2.9%, debt 47.7%
https://www.ons.gov.uk/economy/gover...ries/hf6x/pusf
https://www.ons.gov.uk/economy/gover...mestic-product
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