Originally posted by AshiitakaWhy do you think other governments did manage to make public finances sound while the Tories could not despite being in power since 2010?
You've bungled things. The Labour party was in power then. The conservative party has all but turned around the economy. While george Osborne was a doom monger, he certainly fixed the economy during his tenure as chancellor.
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Originally posted by AshiitakaWas Labour in power in Iceland?
You've bungled things. The Labour party was in power then. The conservative party has all but turned around the economy. While george Osborne was a doom monger, he certainly fixed the economy during his tenure as chancellor.
"Gudrun Johnsen was on the special commission set up to learn lessons from Iceland's banking collapse.
"The banks were 10 times the GDP of Iceland; 20 times the state budget. They were too big to bail out.
"The stock market collapsed: 80% of the stock market was wiped out overnight. Shareholders were badly hurt. About every other business in Iceland became technically bankrupt.
"97% of the banking sector collapsed in a matter of three days, ..."
http://www.bbc.co.uk/news/business-35485876
Was Labour in power in Ireland?
https://www.mtholyoke.edu/~falve22h/classweb/recession/recession/Causes_of_Crash.html
Was Labour in power in America or Europe?
"THE collapse of Lehman Brothers, a sprawling global bank, in September 2008 almost brought down the world’s financial system. It took huge taxpayer-financed bail-outs to shore up the industry. Even so, the ensuing credit crunch turned what was already a nasty downturn into the worst recession in 80 years. Massive monetary and fiscal stimulus prevented a buddy-can-you-spare-a-dime depression, but the recovery remains feeble compared with previous post-war upturns....
With half a decade’s hindsight, it is clear the crisis had multiple causes. The most obvious is the financiers themselves—especially the irrationally exuberant Anglo-Saxon sort, who claimed to have found a way to banish risk when in fact they had simply lost track of it. Central bankers and other regulators also bear blame, for it was they who tolerated this folly. The macroeconomic backdrop was important, too. The “Great Moderation”—years of low inflation and stable growth—fostered complacency and risk-taking. A “savings glut” in Asia pushed down global interest rates. Some research also implicates European banks, which borrowed greedily in American money markets before the crisis and used the funds to buy dodgy securities. All these factors came together to foster a surge of debt in what seemed to have become a less risky world."
http://www.economist.com/news/schoolsbrief/21584534-effects-financial-crisis-are-still-being-felt-five-years-article
The Labour party was indeed in power in the UK and New Labour's fascination with neoliberal economic orthodoxies has been exposed as a mistake. Labour is now learning from that mistake. The Tories are not, as the evidence amassed earlier demonstrates. Even so, Brown's government was able to stabilise the economy after the worst crash since 1929, a global - not a British - failure of financial markets and neoliberal orthodoxy. The recovery was choked off by Tory austerity and that remains a massive problem for the UK economy. Far from "saving" our economy, the Tories are wrecking it.
Now, get to grips with evidence and cut out the empty mantras.
Originally posted by Ghost of a DukeI provided a list of criticisms. I do not think it purports to be a balanced scorecard. Why would it be?
Would you like me to evaluate the Tory record on the heavily bias information you provided?
It may be that the Tories achieved something useful over the years - feel free to tell us about those hidden gems. If you can do that without telling direct lies it will be a bonus.