Although you are right that it is the overall level of debt relative to one’s ability to service AND repay it that matters but your comments imply that you think the UK government has not got a financial problem.
I am not suggesting that the Conservatives have all the answers but when it comes to the management of the economy, Gordon Brown’s record has been like a child in a candy shop choosing what he likes with someone else picking up the tab.
Gordon Brown’s stewardship has been immoral bordering on dishonest. He proclaimed he had abolished boom and bust, that was either naive or stupid. He preached balancing the current account over the economic cycle and despite the UK economy having had 14/15 years of continuous growth he failed to reduce the overall government debt despite having inherited a current account surplus from his predecessors.
Economics is not one of Labour’s strengths. The last time it was in power it required the IMF to bail us out. Having said that they deserved to be put in to power in 1997 but it is disappointing that they have promoted someone who has managed the economy as badly as Sir Fred Goodwin managed RBS. At least Goodwin was fired. It is time for Brown to go as well.
Charles
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