Coronavirus

[Boby Brno]

Gordon Brown bailed out the banks, Rishi Sunak bailed out the people. Both needed doing and like last time it’ll take years to put right. The longer this goes on, the longer the recovery. 

[Escobarp]

27 minutes ago, birch-chorley said:

 

 

Pretty sure national debt as a % of GDP was sub 50% for years through the 90’s and 00’s until the worst banking crisis in 100 years caused the economy to meltdown. The Labour government bailed out the banks to stave off a depression (the right thing to do of course). Any government could have been in charge in 2008 and debt would have sky rocketed 

However, in the 2010 election it was described as ‘Labour debt’ by the Conservative party. Cameron et all focussed on national debt being the main issue and it being the fault of the Labour Party. 

With that in mind it’s only right and fair that the debt from the fall out of this virus is labelled Conservative debt 

Two wrongs make a right then eh? Always thought you were a bright guy til that 

[Sweep]

42 minutes ago, freds dad said:

Did we get our money back for the shit PPE that Turkey sold us?

No, because we got what we ordered... We basically fucked up and didn't check what we were ordering, they certainly didn't supply anything different to what we had asked for, the main issue as I understand it is that it wasn't certified or tested, and we didn't check/ask at the point of ordering if it was (which you would think we would have done). It's all now sat in a warehouse here in the UK. It will be used eventually, its just not appropriate for this type of virus. It'll get used so it's not a total waste of money. Although we could have bought it a lot cheaper, as we paid two or three times what it's actually worth

[Farrelli]

44 minutes ago, birch-chorley said:

 

 

Pretty sure national debt as a % of GDP was sub 50% for years through the 90’s and 00’s until the worst banking crisis in 100 years caused the economy to meltdown. The Labour government bailed out the banks to stave off a depression (the right thing to do of course). Any government could have been in charge in 2008 and debt would have sky rocketed 

However, in the 2010 election it was described as ‘Labour debt’ by the Conservative party. Cameron et all focussed on national debt being the main issue and it being the fault of the Labour Party. 

With that in mind it’s only right and fair that the debt from the fall out of this virus is labelled Conservative debt 

Correct. It’s tough at the top. 

[Tonge moor green jacket]

1 hour ago, miamiwhite said:

Genuinely intrigued here Birch as to how any government wouldn't be in huge debt due to the unique one off crisis the entire world is in.

He's on the wum, looking for a bite.

Playing the it was labour's fault that the world economy got a bloody nose in 2008 following the banking crisis, just in current times.

[Sweep]

57 minutes ago, miamiwhite said:

Genuinely intrigued here Birch as to how any government wouldn't be in huge debt due to the unique one off crisis the entire world is in.

No government could, but that could be forgotten by the time the next GE comes around. Years ago the Tory party blamed Labour for a crippling national debt (caused by the banking crisis, and like in this instance, government borrowing was unavoidable) - I'd guess Labour will do the same thing next time around, and call it the "Tory debt" also if our exit firm the EU doesn't run as smoothly as promised, in four and a half years time the economy could be in a right state (for balance, it might also be doing alright) - if its all a bit shit, the people will blame Boris & Co.....pandemic or no pandemic

[Tonge moor green jacket]

8 minutes ago, Sweep said:

No, because we got what we ordered... We basically fucked up and didn't check what we were ordering, they certainly didn't supply anything different to what we had asked for, the main issue as I understand it is that it wasn't certified or tested, and we didn't check/ask at the point of ordering if it was (which you would think we would have done). It's all now sat in a warehouse here in the UK. It will be used eventually, its just not appropriate for this type of virus. It'll get used so it's not a total waste of money. Although we could have bought it a lot cheaper, as we paid two or three times what it's actually worth

I doubt very much it was paid for, certainly in its entirety.

You're in business, you don't pay up front before your goods come in from China.

Might be a bit different now, since lockdown accepted.

[birch-chorley]

28 minutes ago, Escobarp said:

Two wrongs make a right then eh? Always thought you were a bright guy til that 

Personally I didn’t blame the Labour Party for a global financial crash born out of the US. I also thought they responded relatively well to the crisis. 

Likewise I don’t blame the conservatives now, but many of the senior members of this government got into power by blaming the Labour Party for national debt in 2010 

So fuck them, they can reap what they sow, it’s their debt and their economic crisis - as has been said, it’s tough at the top, no quarters given 

[Spider]

Laura Kuenssberg has100% let Cummings bum her

[miamiwhite]

Best not mention the gold selling cock up then eh ? 

[birch-chorley]

9 minutes ago, miamiwhite said:

Best not mention the gold selling cock up then eh ? 

Aye, the gold selling cock up that cost about £4bn in total. That's with the benefit of hindsight if you knew exactly where the market would be peak and when, think it peaked 5 years later didn’t it? 

For balance the Conservative party under valued the Post Office and it was worth £1bn more the day after they sold it, a single day ffs, not 5 years later 

but either way, £4bn here, £1bn there, let’s not pretend that these things are in anyway significant when it comes to national debt, Covid 19 will cost £300bn!! 
 

Or we could just pretend that everything would have been fine had Labour not sold all the Gold 😂

[Casino]

1 minute ago, birch-chorley said:

Aye, the gold selling cock up that cost about £4bn in total. That's with the benefit of hindsight if you knew exactly where the market would be peak and when, think it peaked 5 years later didn’t it? 

For balance the Conservative party under valued the Post Office and it was worth £1bn more the day after they sold it, a single day ffs, not 5 years later 

but either way, £4bn here, £1bn there, let’s not pretend that these things are in anyway significant when it comes to national debt, Covid 19 will cost £300bn!! 
 

Or we could just pretend that everything would have been fine had Labour not sold all the Gold 😂

Yeah, but, whatabout

[MickyD]

1 hour ago, birch-chorley said:

 

 

Pretty sure national debt as a % of GDP was sub 50% for years through the 90’s and 00’s until the worst banking crisis in 100 years caused the economy to meltdown. The Labour government bailed out the banks to stave off a depression (the right thing to do of course). Any government could have been in charge in 2008 and debt would have sky rocketed 

However, in the 2010 election it was described as ‘Labour debt’ by the Conservative party. Cameron et all focussed on national debt being the main issue and it being the fault of the Labour Party. 

With that in mind it’s only right and fair that the debt from the fall out of this virus is labelled Conservative debt 

This particular debt was thrust upon the Tory government through no fault of their own.
 

The labour version was pretty much self inflicted by their need to spend their way out of a shit period.

[Farrelli]

13 minutes ago, MickyD said:

This particular debt was thrust upon the Tory government through no fault of their own.
 

The labour version was pretty much self inflicted by their need to spend their way out of a shit period.

Global financial crash = shit period 

Covid 19= a bit of flu

 

[miamiwhite]

16 minutes ago, birch-chorley said:

Aye, the gold selling cock up that cost about £4bn in total. That's with the benefit of hindsight if you knew exactly where the market would be peak and when, think it peaked 5 years later didn’t it? 

For balance the Conservative party under valued the Post Office and it was worth £1bn more the day after they sold it, a single day ffs, not 5 years later 

but either way, £4bn here, £1bn there, let’s not pretend that these things are in anyway significant when it comes to national debt, Covid 19 will cost £300bn!! 
 

Or we could just pretend that everything would have been fine had Labour not sold all the Gold 😂

In your rose tinted eyes....just blame the Tories 😎😳

[bolton va va]

13 minutes ago, MickyD said:

This particular debt was thrust upon the Tory government through no fault of their own.
 

The labour version was pretty much self inflicted by their need to spend their way out of a shit period.

Aye. Labour weren't responsible for the global, financial crash, but they made a bad position worse by continuing to spend.

So far at least, nobody can criticise the current government's economic reaction to the pandemic, but they will get blamed by some for the recession that's coming.

[jeep]

2 hours ago, freds dad said:

 

What an ugly woman 

[miamiwhite]

24 minutes ago, birch-chorley said:

Aye, the gold selling cock up that cost about £4bn in total. That's with the benefit of hindsight if you knew exactly where the market would be peak and when, think it peaked 5 years later didn’t it? 

For balance the Conservative party under valued the Post Office and it was worth £1bn more the day after they sold it, a single day ffs, not 5 years later 

but either way, £4bn here, £1bn there, let’s not pretend that these things are in anyway significant when it comes to national debt, Covid 19 will cost £300bn!! 
 

Or we could just pretend that everything would have been fine had Labour not sold all the Gold 😂

Personally, I reckon the true cost of COVID will be a whole lot more than £300billion.

[miamiwhite]

4 minutes ago, bolton va va said:

Aye. Labour weren't responsible for the global, financial crash, but they made a bad position worse by continuing to spend.

So far at least, nobody can criticise the current government's economic reaction to the pandemic, but they will get blamed by some for the recession that's coming.

Spot on M.

[mickbrown]

2 hours ago, deane koontz said:

Kuenssberg's Twitter feed resembles verbal diarrhoea 

Has she become the government spokesperson and just not bothered to tell any fucker?

[Jol_BWFC]

1 hour ago, Tonge moor green jacket said:

He's on the wum, looking for a bite.

Playing the it was labour's fault that the world economy got a bloody nose in 2008 following the banking crisis, just in current times.

Correct. Although less WUM (which suggests he is just trying to get a rise), more “let’s see who is so blinkered that they won’t treat two similar bail-out type scenarios in a similar fashion”. 
 

Quite a few have obliged.

[birch-chorley]

10 minutes ago, miamiwhite said:

In your rose tinted eyes....just blame the Tories 😎😳

No 

Through my rose tinted specs, don’t blame labour for the global crash in 2008 if you aren’t happy about this one being blamed on the Conservatives, you can’t have it both ways 

[birch-chorley]

7 minutes ago, bolton va va said:

Aye. Labour weren't responsible for the global, financial crash, but they made a bad position worse by continuing to spend.

So far at least, nobody can criticise the current government's economic reaction to the pandemic, but they will get blamed by some for the recession that's coming.

Let’s see the plan to get out of this recession, if it doesn’t follow a similar plan to Labours in 2009 I would be very surprised. Immediate tax reduction to boost spending, likely in the form of VAT. Then a big stimulus package to get things going, if the government doesn’t show confidence then no fucker else will 

The Conservative manifesto a few months ago was all about increasing debt to boost spending. They have already said Covid will not mean they ditch their manifesto 

They will try and spend / inflate their way out of it just like Labour did. Cutting our way out of a recession didn’t really work that well did it 

[birch-chorley]

31 minutes ago, MickyD said:

This particular debt was thrust upon the Tory government through no fault of their own.
 

The labour version was pretty much self inflicted by their need to spend their way out of a shit period.

If you look at debt as a % of GDP over time...

https://www.economicshelp.org/blog/334/uk-economy/uk-national-debt/

Labour inherited a level of circa 35% from the Conservatives in 1997. Many Conservatives will tell you Labour inherited a good hand in 1997. In 2008 pre financial crisis the level was still 35%! By 2010 after bailing out the banks and stimulating the economy it was 65%. Ten years of conservative government and Boris inherited 85% 

Post Covid we are looking at 120% 

It would appear from those numbers that the vast majority of our debt has been incurred on the Conservatives shift, yet that’s the party that bang on about debt being someone else’s fault 

[radcliffe white]

Is it not katona time