Thursday, 8 April 2010

General Election - A very quick guide to how Gordon Brown sank the Economy.


Want a good reason why you should not vote Labour? Well here is a very quick guide to how Gordon Brown ruined our economy:

1. For the first 10 years of this Labour government we had a booming economy due to the unsustainable house price bubble and poor financial regulation. During this rich period the then Chancellor, Gordon Brown, failed to pay off the national debt, he sold our gold off at a rock bottom price, raided pensions, in fact he went on a spending spree until the money ran out.

2. When the money ran out, Gordon Brown introduced his numerous stealth taxes, but yet again, he did not use the money raised to pay off the national debt, he just carried on spending until the money ran out.

3. When the money from his stealth taxes ran out, Gordon started to borrow money - actually increasing our national debt. He continued to borrow and spend all the way up to the recession leaving our country weak an poorly placed to weather the storm.

4. Gordon Brown told us that we were best placed to face the recession. We now know that Gordon was not exactly telling the truth. Out of all the major economies we were the first into recession and the last out. Gordon Brown's uncontrolled spending very nearly took this country over a cliff.

So to summarise:

Gordon became Chancellor during a boom and spent all the money

Gordon sold off our gold for a fraction of its current value and spent the proceeds

Gordon carried out a raid on pensions and blew the cash he grabbed

Gordon then introduced stealth taxes and spent all that money

Gordon then borrowed money and carried on spending right up until the recession.

Gordon Brown failed to pay off the national debt after a decade of boom and left us weak going into the recession.

Now Gordon wants to raise tax again (NI) so that he can go on spending - he must be stopped.

6 comments:

James Higham said...

He did, by selling off the gold and the country to the EU. No one of the Big Three wish to speak about the elephant in the room.

Uncle Marvo said...

Tell me that picture's not photoshopped!

Daily Referendum said...

Too true James.

Daily Referendum said...

Uncle Marvo,

No I believe it's a genuine pic, can't swear on it though.

matthew said...

Hi sweety,

Maybe you can explain why almost all other industrialised countries had recessions at the same time, why he have lower unemployment than most of our competitors, why the OECD expects us to grow faster than most of our competitors this year, why we avoided the 2002 downturn that affected most of our competitors. I could go on but that should keep you busy for a while. Now get a shave.

Luv T+T

Anonymous said...

Given that the Tories are even more free market gung-ho than New Labour, the financial crisis would have been much worse and markets even less regulated

Hardly a choice is it really? All the main parties would have presided over the same economic debacle