In the NHS, the Primary Care Trusts seemed to suffer from a shortage of money under Labour, with 35% running a deficit. As to education under Labour, we were sliding down the ladder to education oblivion, according to the OECD.
It’s a fallacy that the economy grew at 2.6% under Labour. It was government borrowing that gave them growth in the economy.
Business + personal spending + exports – imports make up the GDP cake, add in government spending for the icing and, for the cherry on top, add government borrowing. The last Labour government borrowed 10% of GDP and claimed growth of 2.2%. Seriously? Can the country afford a Labour government with an abysmal economic record? Previous Labour governments were either devaluing the pound, sinking the country under a sea of debt or both.
Margaret Thatcher said: “Socialists always run out of other people’s money!”
The current socialist Scottish government seem strangely to have money problems, fancy!
The European Central Bank (ECB) created 60billion euros a month for 12 months to buy various governments’ bonds. Since July, the ECB will create 80billion euros a month and extend the bond-buying to corporate bonds to drive bond yields negative and destroy the purchasing power of the euro, a good socialist policy.