Friday, 15 November 2013

Ken Livingstone

It was interesting to see Ken Livingstone's recent comments to a campaigning group. He accused the Labour party of “cowardice” for building up billions in debts rather than taking difficult decisions on tax cuts and spending and accused Gordon Brown of borrowing too much in the boom years. Mr Livingstone said: “Gordon Brown was borrowing £20 billion a year at the height of the boom in the first decade of this century in order to avoid having to increase taxes, because he wanted to increase public spending.” Whilst non of this is exactly cutting edge it is surprising how many Labour councillors in Southend remain in denial of the financial incompetance of the last Labour government and it's hand in contributing to the financial challenge which the current government is facing.If you think you have eliminated the cycle of boom and bust is it surprising that in times of boom you do not take steps to prepare for the inevitable times of bust. Our Labour members refuse to accept my criticisms of their last government but perhaps they will listen to Red Ken!



  2. Tory borrowing:
    2010–11: £137bn
    2011-12: £121.0bn
    2012-13: £120.9bn
    2013-14: £120bn
    Total: £499bn
    So in total in the four years since the Tories came to power they are expecting to borrow as near damn it £500bn. What did the Labour government borrow in the last four years they were in office?
    Labour borrowing:
    2006/07: £35bn
    2007/08: £36.4bn
    2008/9: £90bn
    2009/10: £154.7bn
    Total: £316bn
    As you can see the Labour government ‘only’ borrowed £316bn in the last four years that they were in power.