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Re: Leadership who is the next PM?
Quote:
Originally Posted by OLD BOY
The City was not exactly whiter than white, but we are talking gover ment performance here. The Labour Party, in both periods of office, spent all the money so it was unable to deal with the financial crisis.
The way Gordon was carrying on with his spending spree we would have ended up bankrupt one way or another even without the crash. It might have taken a couple or three years longer, but the end result would have been the same.
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Historical data on public sector net debt against GDP does not support that statement (and I’m no fan of Labour) - Labour’s PSND vs GDP was lower in 2007 than when they took power in 1997 (then the crash happened).
https://tradingeconomics.com/united-...nt-debt-to-gdp
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