Tuesday, December 20, 2011

Tories cannot be trusted on the economy

A major issue in the 2010 general election campaign concerned the British economy. Was Labour handling the crisis well or could others handle it much better? We now have an answer.

The Conservative-led coalition with the Liberal Democrats put full blame onto Labour for Britain's economic problems. They argued that Labour had borrowed too much and that international factors were not to blame for the UK's economic predicament.

We are now 18+ months later and what do we see? We see the coalition government borrowing more money than under Labour. (Don't take my word for it: this is confirmed by The Daily Mail here.) We have seen unemployment, especially amongst youth, soar to levels not seen since before Tony Blair became Labour's Prime Minister. Additionally, we also face rising crime rates and future uncertainty. On the whole, the current government's economic plans are proving a failure with no credible plan for job creation on the table.

Ironically, the single biggest reason that the government claims has made recovery difficult is, erm, the international financial crisis. This is exactly what Labour had argued under Gordon Brown (and precisely what Osborne denied was a relevant excuse). Oh, how things change when you take office.

It's time to rid ourselves of the myth that the Tories can be trusted on the economy. The economy tanked under their leadership pre-Blair and the economy has become worse, not better, since the Tories took over from Labour. Britain needs a Labour government to put the country back on the road to recovery and financial health.

UPDATE: Further evidence that the Tory-led government cannot be trusted on the economy is found in the deeply worrying situation regarding reported billions in unpaid taxes. The figure may be as high as £25 billion and further details may be found here.

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