| Wyrdness said: With auterity our debt has gone up far more then when the wasn't austerity, this highlights that it was never about reducing debt but cutting costs for one class of people to benefit the pockets of a few at the top. We had cuts to disabled people and all yet the tax cuts for big businesses remained with the likes of Starbucks and Google even getting away with not paying any tax for years and this was with the so called mob worthy of finance. As someone who works in finance I'm going to tell you this the debts are never going to disappear because of the econmic system employed, they're always going to be there because of how banks and financial institutes operate. I will give Corbyn his due as his plan and vision is coherant and want's to return some of what the Thatcher days got rid of. |
The 2008 recession makes direct comparisons on that front rather difficult. After the crash the UK's borrowing skyrocketed, and that borrowing had to be continued under the Conservatives (hence the infamous "I'm afraid there is no money" note that was left to the conservatives in 2010). Since then the Conservatives have pulled net borrowing down from its 153 billion peak to 43 billion in 2016 (about in line with what Labour were borrowing).
I'm not saying austerity has been the correct approach, but we can't linearly draw a line between it and our debt and say "it's not working". The conservatives were left with quite the shitshow when they took power.
