Friday, September 17, 2010
Some Simple economic facts
1. There a Tory/Lib dem smoke-screen being put up over ther economy. They pretend they are only making cuts because Labour messed it up but we all know that's a load of baloney (thats me being polite)
2. When you have an international economic crisis like we have just been through, you run a deficit- Thats how you get through it.
3.The Lib Dems agreed with us at the time, opposing the increase in VAT and massive Tory spending cuts. If we were wrong so were they. In fact we were right but they sold theior principles for Government jobs.
4.The Tories opposed every step Labour took to tackle the recession. If they had had their way Northern Rock would have collapsed followed by other banks and financial institutions. Millions of homes and pensions would have been threatened. The "Hole in the wall machines were 20 minutes from being switched off. If the Tories had been in office 3 years ago our economy would have been a smoking ruin.
5. Labour knew we needed to cut the deficit-£70billion cuts were timed for this year. Tory cuts of £110 Billion ( over 50% greater) with much more planned for October are too large and will cause unnecessary misery.
6. There are 19 millionaires in a cabinet of 23-all in it together?