Labour's "Golden Legacy" The Economy ?

[pipme]

The spadework had been done ... the hill climbed ...
It has been said that Gordonbleu has been lucky ...

http://www.telegraph.co.uk/money/ma...nuId=242&sSheet=/money/2005/05/02/ixcoms.html

One of the Chancellor's boasts about his management of the economy is that the economy has experienced 50 quarters of consecutive growth. This is true. But what he doesn't tell us is that 20 of these quarters (from 1992 Q3 to 1997 Q2) were under the Major government, a time when the economy was performing very well indeed.

 

[Damocles]

I think I would point out that under the conservatives the economy went up and down like a yo-yo. The point is not merely that it has performed well, but that we have avoided boom and bust.

Which is not to deny that it might be due to luck.

WHich is not to say that the tories would be any luckier.

 

[Freddie]

Hold on Damocles you must have missed a tablet

To be fair, the Tories were encouraged into the Euro thing which was a disaster, at the same time their was a stock market crash andf also peoples greed in the housing market got out of control even though the interest rates were far higher than they are now, so whatever you think of the Tories you cant blame them for everything where as Labour have had it pretty hiccup free except for 9/11.

At the same time all this happened to the Tories 15 - 17 years ago, how bloody far do you keep having to go back?? I can remember what it was like under the 70's Labour goverment, it was extremely grim, but none of this is relevent today.

 

[Damocles]

If I want to compare how good the tories are at running a country I have to go back 8 years since they last did. So a period of 8 years would be 8-16 years ago.

I think some people might suggest that sky high interest rates and stock exchange crashes were caused by their policies, rather than things they had to live through.

As I recall it, labour made a total pig's ear of it. As a result the tories took over. When they in turn made a right mess, labour took over again. The important point is that this time labour have not made a mess of the economy. So by these slightly eccentric rules of the game they get to stay 'in' a bit longer.

 

[Freddie]

Well this year and next are the days of reckoning then because this is where it will all unwind----spend spend spend spend what you havent got, but now it has to be payed back

 

[kendor]

At the same time all this happened to the Tories 15 - 17 years ago, how b****y far do you keep having to go back??

It was Pip that started off this debate with mentioning the tories quoting Ruth lea!

 

[pipme]

I have peeked at the bank rates -- on the BOE site, ( back into depths of time if you want ) Also the RPInflation rates, they were being pulled down during the galloping egg-mans time as PM (egg as in '-Wina' galloping as in officer's rank )
[code:1]
Date RPI% RPIX% BoeAv%
Dec-91 5.9 6.7 11.9
Dec-92 3.7 4.7 8.4
Dec-93 1.6 3.0 5.6
Dec-94 2.4 2.3 5.6
Dec-95 3.5 2.9 6.5
Dec-96 2.4 3.0 5.9
Dec-97 3.1 2.8 6.8
Dec-98 3.4 2.6 6.9
Dec-99 1.5 2.3 5.4
Dec-00 3.0 2.1 5.9
Dec-01 1.8 2.1 5.0
Dec-02 1.7 2.2 4.0
Sep-03 2.9 2.8 3.8
[/code:1]
BOE = Bank Of England : RPIX = Retail Prices Index eXcluding housing costs : RPI = With !! Brown now uses CPI which discounts Housing and LOCAL TAXES .. I wonder why ? (apart from being Euro standard, more to the point they are looking to include housing costs .. watching Gordon I expect)
Unfortunately I have not updated this table, but I suggest the rates will go up .. RIP is at 3 and a bit % now .. I am backing BOE to raise it's rate soon. ( TV licence up by 4.5% .. inflationary )
Thinking about it all from a 'feel good' point of view, makes it seem so wonderful, the figures tend to calm the euphoria.... Be prepared !!
The fan blades will be tinged with brown stuff sooner or later !!
And we all know who will suffer most !!

 

[AdamW]

The fan blades will be tinged with brown stuff sooner or later !!
And we all know who will suffer most !!

The cleaners? Or those sitting on the other side of the fan? Perhaps we should cling on to the brown stuff, then when the flingers of said brown try to tax us on it, they will reach through the fanblades and lose a hand. That way they can fling no more. Now, all we need to do is figure out what the brown stuff represents here...