Labours last time in power .!!!
As I recall they left our finances in a proper state and from memory it meant the Tories had to get creative and borrow/ spend even more for a time -to avoid a catastrophe
Government debt under labour 1997-2010
Government debt under Labour was a major factor in the elections of 2010 and 2015. But to what extent did the Labour government plunge the economy into debt ?
1997/98 40.4% of GDP
2007/08 36.4% of GDP
2010/11 60.0% of GDP.
Budget Deficit
The level of Net government borrowing at 2011/12 prices
1997-98 £ 7.8 bn
2007-08 £ 40.3 bn
2010-11 £ 145.1 bn
