Labour’s economic management during the banking crisis, credit crunch and recession is

Comment on General Election 2010 Poll Results by David.

Labour’s economic management during the banking crisis, credit crunch and recession is what has got us back into growth.

Have you not been watching the news lately?

Greece who had/has a rubbish government that was so bad at managing it’s economy it was in more debt as a % of GDP before the banking crisis than we are in debt now after a bad recession!

Note: when Tories say we have a higher level of debt than Greece, it’s total BS. The total value (the £ amount) is higher than Greece, but then the total debt of Germany will be higher than Greece. It’s not the total amount that’s important it’s the ability to afford the debt that matters and that’s a measure of the countries GDP (Gross Domestic Product).

Currently their debt relative to GDP is over 100%, ours is around 50%. Relatively speaking their debt is twice as bad as ours which is why they are in so much trouble. We even have less debt than Germany, we have a strong economy that is poised for decent growth in the future.

As an analogy if you earn £50K a year and I earn £100K a year, who can better afford a £50K loan? You will be close to bankruptcy because you can’t pay it off (you don’t earn enough a year), I’ll be fine and will get that debt down in under 5 years, because I earn more than enough to pay the debt down. That’s pretty much the economic reality of comparing Greece to us, so when the Tories say we have a higher level of debt than Greece it is BS and meant to distort the truth. What’s most irritating is it puts our country down and that’s going to hurt us on the world stage when we want to attract more foreign investment that generates jobs and more growth.

Greece are a country with idiots at the helm, not Britain, which is why we are back in growth and Greece are having riots in the streets and are still in deep recession!

It was Gordon Brown that led the world in working together to tackle the problems they all saw coming.

Gordon Brown brokered an agreement with all the major economies for each major economy to create a stimulus package that would stop the biggest damaging affects of what the banking crisis created.

The economic stimulus package in Britain wouldn’t have worked as it has without the entire world doing similar things because all countries rely on trading with one another (we might be on an island, but economically speaking we are not an island).

David Cameron’s Conservatives didn’t want the economic stimulus package, they wanted the recession to run it’s course, they didn’t want the Labour government to nationalise Northern Rock, they’d have let the country go into mass unemployment and let the banks go under and thousands of British savers like you and I would have lost our savings!

Small businesses would have closed in higher numbers than under the Tories 80s and 90s recessions. It’s a joke to call the Conservatives the party for business, in recent history they have been awful on economic matters!

There is a strong argument that with Gordon Brown as PM during the banking crisis, we wouldn’t have the world working together and there would have been a much deeper world recession! What is clear David Cameron if he was PM would not have led the world like Gordon Brown did.

Don’t you remember Gordon Brown’s slip when he said “We’ve saved the world” :-) after managing to get a world wide agreement to the economic stimulus packages?

Without those economic stimulus packages that all major economies agreed to and put in place, the world recession would have been far worse and that’s what the Conservatives wanted to do! Even now we aren’t out of the woods and the Tories at every step of the way have wanted to cut the stimulus package and throw the country into a deeper recession on ideological grounds of “sink or swim” or a “survival of the fittest” Tory mentality!

To believe the Labour government under Gordon Brown didn’t get us out of recession you haven’t a clue what you are talking about.

My God I think I just formed the “I LUV Gordon Brown” fan club :-)

David