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tjj - 49 and 5 Sunday services
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thesweetcheat
thesweetcheat
6210 posts

Re: tjj - 49 and 5 Sunday services
Mar 26, 2017, 23:44
GLADMAN wrote:
GLADMAN wrote:
Tories?

Tony Blair.


Sorry, instinctive reaction.. no offence intended. I am by no means a Tory.

However... Point is I work within financial services... and the more we dig trying to fix the problems the more Tony Blair's - and Gordon Brown's - fingerprints are upon everything which went wrong in the 2,000s. Labour voters have to shoulder responsibility for the meltdown. The guy had three terms, for chrissake! Assumption there is the country was happy with running up unprecedented levels of debt? I wasn't. Or else they simply did not understand? Someone has to attempt to pick up the pieces.


The "meltdown" was a global financial crash caused by people working in banking, not by Labour government spending, either here or anywhere else. Not sure how that makes it the fault of Labour voters unless they happened to be US sub-prime mortgage brokers as well. The suggestion that Labour caused the crash has long been discredited by everyone from the Treasury to the former Governor of the Bank of England. Sure, Labour could have stepped up regulation of the banking and financial sectors (although they already had increased regulation with the creation of the FSA) but be honest, the Tories pushed and pushed for less regulation and if they'd been in power in 2007 the banks would've been less regulated than they were, and the effect could have been significantly worse as a result - it was Labour's intervention that stopped Northern Rock and RBS failing.

The levels of debt are not "unprecedented" (a look at any number of charts showing national debt since the 1940s will show that) but it has risen by over 50% since the Tories took over the economy in 2010, while nearly doubling as a percentage of GDP in the same period.
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