[Zizu]

Labour’s 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