Oo0AahCantona
Full Member
- Joined
- May 23, 2014
- Messages
- 5,397
On the first paragraph, as explained in my post, it may have been external or done previously, but it was still conservatives at the helm and they themselves as chancellors enacted no policies to help remedy any the situations. If Any of the opposition parties were in government sat on their ass instead, they would have had the same effect doing nothing apart from not being kwarteng and truss.#1-4 was either external or done well before Sunak/ Hunt took over. Again, I am not saying they have done a good job. Just that they have not done a bad job. And looking forward they are putting forth ideas, primarily the traditional conservative idea that one must reduce the tax burden to spur economic activity. It is half baked but half baked is better than nothing at all, which is what Labour is offering. That is my only point.
On #5 and profiteering - that's far from the UK's biggest economic problem. The main issue is the complete lack of productivity gains in at least 20 years which has made the UK's GDP per capita go from parity to the US in the mid-00s to 40% lower than the US today. Why does Labour not have an ounce of idea on what they would do differently to close that gap a little....
On the second, once again it was a conservative decision to have 14 years of austerity while we had record low interest rates, whereby in standard economic theory, this would have indicated the perfect time to enact investment spending with cheap borrowing to stimulate growth, grow the “pie” then allow tax cuts off the back. Instead, we ended up having a disastrous campaign of austerity and cuts which lowered our economic growth and simultaneously saw our budget deficit skyrocket getting the worst of both worlds. This is a key reason why our productivity gains have been absolutely destroyed under the conservatives post the 2008 crash. I don’t blame the Tory’s for the energy crisis or covid in the same was it wasn’t Gordon browns fault MBS defaulted in 07/08. It doesn’t mean they have done anything to warrant praise.
I despise the shift of Labour under starmer but I’m confused at why based on the current information, without manifestos, you are seemingly more confident in those who have proven inept economically for 14 years over virtually anyone else.