Gordon Brown - remember him? As Chancellor he had his ‘golden rules ‘ - careful fiscal management of the economy. He broke his rules before he became PM by spending MORE than the record tax receipts the Government was receiving. On top of this massive £ PFIs
Pfis - look that up if you done understand .
G Browns massive borrowing on spending before the financial crisis meant the govt was likely to lose their AAA rating . This meant higher interest repayments if we borrowed heavily.
Basically a Labout gov maxed out the UKs credit card. & massive borrowing was off the cards when the crash came . Vince Cable Lib Dem warned time & time again when Labour was spending madly this could happen.
At 2010 GE all 3 main parties pledged massive cuts (austerity) the bring the economy under control ..
Here is what each pleaded to cut & what the Coslition actually cut
Labour would have cut MORE - MORE austerity.
Brexit made us poorer everyone sane (experts) knew this - as a country & individually especially those struggling to make ends meet … so what did Labour do ….
Did they oppose the Conservatives? Did the support the Conservatives ? Let’s take a look shall we …
Labour loved the Boris Johnson disastrous Brexit deal so much they vote FOR it … not against or even abstain. The Lib Dem’s ? Go & find out .
Hummm this is interesting! Labour supporting the Conservatives over Brexit - which would make the poorer poorer !!! Oh look … it’s the Liberal Democrat’s opposing the Conservatives… !
It must be remembered Labour would not accept any change in Prime Minister ( even though GBrown had lost ) & that any coalition (the MPs Lib/Lab was still well short of of majority) had to be agree to Labours manifesto (no compromise).
This would have MORE austerity if a Labour gov had been leading a coalition.
Let’s move onto 2015 … did Labour say ‘let’s end austerity……of course not! They want even more !!
Now let’s move onto 2019/2020 …. Brexit …. Which has made the country & its citizens so much poorer …