Re: The Economy : Wed Oct 30, 2013 8:22 pm  

There used to be a school of thought on this forum that Labour did not overspend prior to the 2008 financial crash. Well today Tony Blair has admitted that Labour DID overspend. "The former PM told a Q&A forum at Queen Mary, University of London he "regretted" not following through on a 2005 plan to "weed out billions in unnecessary and wasteful spending" http://www.theweek.co.uk/uk-news/55831/ ... 008-crisis

There used to be a school of thought on this forum that Labour did not overspend prior to the 2008 financial crash. Well today Tony Blair has admitted that Labour DID overspend. "The former PM told a Q&A forum at Queen Mary, University of London he "regretted" not following through on a 2005 plan to "weed out billions in unnecessary and wasteful spending" http://www.theweek.co.uk/uk-news/55831/ ... 008-crisis

Re: The Economy : Wed Oct 30, 2013 8:29 pm  

Ajw71 wrote: There used to be a school of thought on this forum that Labour did not overspend prior to the 2008 financial crash. Well today Tony Blair has admitted that Labour DID overspend. "The former PM told a Q&A forum at Queen Mary, University of London he "regretted" not following through on a 2005 plan to "weed out billions in unnecessary and wasteful spending" http://www.theweek.co.uk/uk-news/55831/ ... 008-crisis There wasn't any such school of thought. There was and still is a school of thought that rather than Labour's spending, it was in fact unfettered, gambling bankers who caused the global financial crash

Ajw71 wrote: There used to be a school of thought on this forum that Labour did not overspend prior to the 2008 financial crash. Well today Tony Blair has admitted that Labour DID overspend. "The former PM told a Q&A forum at Queen Mary, University of London he "regretted" not following through on a 2005 plan to "weed out billions in unnecessary and wasteful spending" http://www.theweek.co.uk/uk-news/55831/ ... 008-crisis There wasn't any such school of thought. There was and still is a school of thought that rather than Labour's spending, it was in fact unfettered, gambling bankers who caused the global financial crash

Re: The Economy : Wed Oct 30, 2013 8:30 pm  

Ajw71 wrote: There used to be a school of thought on this forum that Labour did not overspend prior to the 2008 financial crash. Well today Tony Blair has admitted that Labour DID overspend. "The former PM told a Q&A forum at Queen Mary, University of London he "regretted" not following through on a 2005 plan to "weed out billions in unnecessary and wasteful spending" http://www.theweek.co.uk/uk-news/55831/ ... 008-crisis Not strictly true - where is the school of thought on this forum that Labour did not overspend etc etc etc, who said that ? And he hasn't admitted to overspending, in 2005 you would never have heard him say that they were overspending because at the time they weren't and no-one else thought they were. What he has done is the stupid thing that most humans do, he's using the benefit of hindsight to wish that things had been different whereas in truth if he'd known in 2005 that the worlds banks would collapse like a huge house of cards in such a spectacular fashion just three years later, then he'd be the first man ever to have existed who could truly see into the future, for no-one else predicted such a thing or started spending less to prepare for it.

Ajw71 wrote: There used to be a school of thought on this forum that Labour did not overspend prior to the 2008 financial crash. Well today Tony Blair has admitted that Labour DID overspend. "The former PM told a Q&A forum at Queen Mary, University of London he "regretted" not following through on a 2005 plan to "weed out billions in unnecessary and wasteful spending" http://www.theweek.co.uk/uk-news/55831/ ... 008-crisis Not strictly true - where is the school of thought on this forum that Labour did not overspend etc etc etc, who said that ? And he hasn't admitted to overspending, in 2005 you would never have heard him say that they were overspending because at the time they weren't and no-one else thought they were. What he has done is the stupid thing that most humans do, he's using the benefit of hindsight to wish that things had been different whereas in truth if he'd known in 2005 that the worlds banks would collapse like a huge house of cards in such a spectacular fashion just three years later, then he'd be the first man ever to have existed who could truly see into the future, for no-one else predicted such a thing or started spending less to prepare for it.

Re: The Economy : Wed Oct 30, 2013 8:30 pm  

Ajw71 wrote: There used to be a school of thought on this forum that Labour did not overspend prior to the 2008 financial crash. Well today Tony Blair has admitted that Labour DID overspend. "The former PM told a Q&A forum at Queen Mary, University of London he "regretted" not following through on a 2005 plan to "weed out billions in unnecessary and wasteful spending" http://www.theweek.co.uk/uk-news/55831/ ... 008-crisis Tony Blairs a conservative like you and feel free to quote any poster that categorically stated Labour did not overspend? Jog on.

Ajw71 wrote: There used to be a school of thought on this forum that Labour did not overspend prior to the 2008 financial crash. Well today Tony Blair has admitted that Labour DID overspend. "The former PM told a Q&A forum at Queen Mary, University of London he "regretted" not following through on a 2005 plan to "weed out billions in unnecessary and wasteful spending" http://www.theweek.co.uk/uk-news/55831/ ... 008-crisis Tony Blairs a conservative like you and feel free to quote any poster that categorically stated Labour did not overspend? Jog on.

Re: The Economy : Wed Oct 30, 2013 8:34 pm  

Ajw71 wrote: There used to be a school of thought on this forum that Labour did not overspend prior to the 2008 financial crash. Well today Tony Blair has admitted that Labour DID overspend. "The former PM told a Q&A forum at Queen Mary, University of London he "regretted" not following through on a 2005 plan to "weed out billions in unnecessary and wasteful spending" http://www.theweek.co.uk/uk-news/55831/ ... 008-crisis Blair added that the possible effect of the FSR "pales into insignificance compared with the impact of the financial crisis, frankly". Thanks for that. Also there is a difference between "unnecessary" or "wasteful" spending and overspending. Answered the questions put to you yet?

Ajw71 wrote: There used to be a school of thought on this forum that Labour did not overspend prior to the 2008 financial crash. Well today Tony Blair has admitted that Labour DID overspend. "The former PM told a Q&A forum at Queen Mary, University of London he "regretted" not following through on a 2005 plan to "weed out billions in unnecessary and wasteful spending" http://www.theweek.co.uk/uk-news/55831/ ... 008-crisis Blair added that the possible effect of the FSR "pales into insignificance compared with the impact of the financial crisis, frankly". Thanks for that. Also there is a difference between "unnecessary" or "wasteful" spending and overspending. Answered the questions put to you yet?

Re: The Economy : Wed Oct 30, 2013 8:49 pm  

JerryChicken wrote:

Not strictly true - where is the school of thought on this forum that Labour did not overspend etc etc etc, who said that ?

And he hasn't admitted to overspending, in 2005 you would never have heard him say that they were overspending because at the time they weren't and no-one else thought they were.

What he has done is the stupid thing that most humans do, he's using the benefit of hindsight to wish that things had been different whereas in truth if he'd known in 2005 that the worlds banks would collapse like a huge house of cards in such a spectacular fashion just three years later, then he'd be the first man ever to have existed who could truly see into the future, for no-one else predicted such a thing or started spending less to prepare for it.

XBrettKennyX wrote:

It's quite simple.

Labour overspent.

Big Graeme wrote:

No they didn't. Until our wonderful banking institutions decided to play fast and loose we had a very good balance of payments. Facts hey, tricky things.

Him wrote:

No they didn't, government debt & deficit is nothing like a credit card bill.

DaveO wrote:

What a load of rubbish.

The fact of the matter is over its term in office Labour spending was never any more excessive than previous Tory administrations. In fact they ran a surplus from 1998 to 2001.

Just three examples I've found from a quick search.

If you are trying to argue spending 'wastefully' and 'unnecessarily' is not overspending you are coming from a very strange view of the English language.

Re: The Economy : Wed Oct 30, 2013 9:05 pm  

Ajw71 wrote:

Just three examples I've found from a quick search.

If you are trying to argue spending 'wastefully' and 'unnecessarily' is not overspending you are coming from a very strange view of the English language.

...and your answers to the other salient points given to you above ?

Re: The Economy : Wed Oct 30, 2013 9:08 pm  

Ajw71 wrote:

Just three examples I've found from a quick search.

If you are trying to argue spending 'wastefully' and 'unnecessarily' is not overspending you are coming from a very strange view of the English language.

No because you see the words "wasteful", "unnecessary" and "over" do not actually mean the same thing.

Plus the facts and figures are freely available and prove that they weren't. Unless you think the previous Tory government were overspending too.

A little example.

I believe govt spending is around £720 billion.
The government could slash that in half. By spending £360 billion there would be no deficit and a huge surplus (disregarding any effects of the cut).
I don't think anyone could accuse that government of "overspending".
But if the government was spending that £360 billion on gold plated BMW's for everyone in the country. That would be "wasteful" and "unnecessary" spending.

Do you see how different words have different meanings?

Answered the questions and points put to you yet? Ever going to?

Re: The Economy : Wed Oct 30, 2013 9:21 pm  

Him wrote:

The government could slash that in half. By spending £360 billion there would be no deficit and a huge surplus (disregarding any effects of the cut).
I don't think anyone could accuse that government of "overspending".
But if the government was spending that £360 billion on gold plated BMW's for everyone in the country. That would be "wasteful" and "unnecessary" spending.

Yes nice analogy but it would also be overspending too as that money did not need to be spent.

Labour did not cause the economic crash, they did however exacerbate its effects.

Re: The Economy : Wed Oct 30, 2013 9:27 pm  

Ajw71 wrote:

Yes nice analogy but it would also be overspending too as that money did not need to be spent.

Labour did not cause the economic crash, they did however exacerbate its effects.

You haven't got a clue what you're on about

Ever going to answer the questions asked of you by various people?