National debt – some facts and figures
December 16, 2013 1 Comment
One of the charges made against Labour politicians (yes, even humble councillors) is our (supposed) mismanagement of the economy and the enormous debt we bequeathed Cameron and Clegg. This is used to justify all sorts of nasty policies, including cuts to local services.
There is a nice and simple graphic here which illustrates that the truth is not necessarily as it almost always appears to be told.
I have no idea what the politics are of the people who write for Gold made simple but they clearly are underwhelmed by the current Chancellor of the Exchequer. They do not strike me as covert operators for the SWP, and one imagines that those make their money buying and selling gold are less than enthusiastic about socialism. This makes their prognostications on the current Government’s fiscal policies all the more interesting. They predict, for instance, another recession soon, in contradistinction to George Osborne’s pronouncements.
The table below shoes the national debt situation since the Second World War. To be fair it is a mixed picture, but what it clearly does not show is Conservative Governments being better than Labour ones in reducing the debt.
|Year||Debt as % of GDP||In power at year end|
The figure at the end of September 2013 was 75.9%. Here is a good read on this subject.