| Topic: | Re:Re:Escalating fury at Greenford Station! | |
| Posted by: | Thomas Barry | |
| Date/Time: | 29/10/09 22:37:00 |
| "The borrowing had already spun out of control" No it hadn't. This single statement renders much of what you have to say rather suspect, as it suggests you've merely read papers instead of going and looking at the facts. What actually happened was a sudden fall off in tax revenue accompanied by rising social payments due to unemployment, or, in other words, a severe recession. Compound this with having to bail out the ruddy banks and you have a substantial rise in borrowing *after* the crisis, rather than before. The UK certainly had economic issues, but it wasn't public borrowing so much as budget deficits and high and rising unemployment where we compare badly internationally. I'd have thought, in those circumstances, forking out for a virtually spade ready and sorely needed bit of public infrastructure might be a good move. The worst time for a government to cut is during a severe private sector investment crisis, which Gordon Brown, for all his manifest failings, at least grasps rather better than the Opposition. |