Since the myth that Labour had mishandled the economy is something that Vox Political has tried to expose many times, this is an article we can support wholeheartedly.
The truth is out: The Tories have lied extravagantly about the cause of the UK’s current economic woes. It follows that they are lying about the solution, and therefore every hardship that you or people you know have been forced to endure in the name of austerity is also based on a lie.
They’ve taken billions of pounds away from people who desperately needed that money – many of them to survive. Many of those people are no longer with us now.
All for the sake of a big lie.
How does that make you feel?
Spread the word, eh?
The Observer published a very interesting article on Sunday, in which its senior economic correspondent, William Keegan, noted that two economists of world renown have recently assessed the economic performance of the last Labour government and come to similar conclusions:
The ‘inherited mess’ – that most worn-out of Tory accusations against the Labour party – is a complete myth.
Since that touches on one of the seminal posts of this blog, dating back over a year, and one which has been the subject of much attempted-but-failed derision by Tory trolls visiting this blog, I’m going to indulge in a little bit of ‘I told you so’.
Keegan quotes economist Simon Wren-Lewis – the economist whose intervention kept the UK out of the euro – in the Oxford Review of Economic Policy:
The debt-to-GDP ratio in 2007 was lower than its level in 1997, and the net borrowing requirement was…
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