The Mudcat Café TM
Thread #164605   Message #3967305
Posted By: DMcG
19-Dec-18 - 04:31 PM
Thread Name: Brexit #2
Subject: RE: Brexit #2
You are quite right DMcG, Labour increased National Debt at a far higher rate than conservatives, by any metric


Well, as that fullfact article explains:

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Public sector net debt as a proportion of GDP was down under Labour for most of its term. But it then jumped from 36% of GDP in 2007/08 to 65% in 2009/10.

As with the big jumps in the cash amount, that reflects the impact of the financial crisis and the accompanying recession that began in 2008. The reduction in economic activity in that period meant less in tax receipts and higher welfare spending—blowing a hole in the national finances. The much bigger deficits every year added considerably to the overall debt.


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And, As of Q1 (the first quarter of) 2018, UK debt amounted to £1.78 trillion, or 86.58% of total GDP.

As I say, looking at the big picture and ignoring the world wide financial turmoil during the time Labour was in power, leading to a debt level of 65% when they left power, compared to 86% now, is exactly what I mean by concentrating on things you want to while ignoring things you would rather not think about.


As a general rule of thumb - you can always quote a difference in figures as a ratio or as an absolute change. There is often a political or journalistic reason to quote which looks most dramatic when it suits you, and whichever looks least dramatic when that suits. So the alert reader always asks why this representation is being used when a politician quotes figures.