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thecrashingisles

Ken Livingstone The Fiscal Conservative

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Mr Livingstone said: “Gordon Brown was borrowing £20 billion a year at the height of the boom in the first decade of this century in order to avoid having to increase taxes, because he wanted to increase public spending. It was an act of cowardice,”

..

Speaking to the Standard today, he said: “I criticised both left and right. If it was up to me there would be a target of repaying all debt within 20 years. I’m in favour of borrowing to invest, but not to cover day-to-day spending.”

Very damning stuff from Ken. Although I thought "Labour" under Brown was borrowing to invest is that why he kept quiet?

Brown had abolished boom / bust so borrowing was sustainable as there wasn't going to be a bust....

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Very damning stuff from Ken. Although I thought "Labour" under Brown was borrowing to invest is that why he kept quiet?

Brown had abolished boom / bust so borrowing was sustainable as there wasn't going to be a bust....

He was 'investing' in tax cuts :lol:

Why even bother listening to these fools, any of them? Their usage of the english vocabulary is so 'flexible' its worthless.

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Grant Shapps.

Absolutley no shame whatsoever.

I dont care for him at all.

Something about him that doesn't sit well, can't quite put my finger on it....best to avoid. ;)

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Grant Shapps.

Absolutley no shame whatsoever.

I dont care for him at all.

I agree. And as for Ken - he needs to understand a little more about economics and borrowing by govts. The fact is that a small amount of borrowing up to 5% gdp actually creates a slightly higher growth rateand costs less to srvice than the increase in wealth/taxes. Just like the best medicine, having more is worse. Brown knew nothing and spent, spent, spent. Clueless idiot who deserves a very poor write-up in the history books. Probably the worst Chancellor ever after Dennis Healey in the 1970's, who ended up with a similar debt and in the hands of the IMF. It really is always Labour who have snookered the economy. The tories, on the other hand, handle it better but always protect the rich and abort meritocracy.

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