Labour's Failure
You can't trust Labour with our economy!
For more information about the facts behind the information below, please click here. You can also download information on Labour's awful economic record from the Conservative Party web site, by clicking here.
They thought they'd abolished boom and bust...
In July 2008 Alistair Darling claimed 'Times are tough. It will take time for global difficulties to work through. But our economy will continue to grow' and in November 2008 Gordon Brown claimed "we are better prepared than other countries".
... in fact we had a massive debt-funded boom
Labour more than doubled the national debt mistaking a property boom for sustainable growth, and manipulating their own fiscal rules to disguise the unsustainable deficit. Personal debt exceeded a trillion pounds and we had the lowest savings ratio ever in the UK.
They claimed we would not be affected...
In July 2008 Alistair Darling claimed 'Times are tough. It will take time for global difficulties to work through. But our economy will continue to grow' and in November 2008 Gordon Brown claimed "we are better prepared than other countries".
... in fact we suffered the deepest and longest recession on record
Our economy contracted for 6 quarters and GDP fell by 6 percent - the longest and deepest recession on record. We were the last of the G20 nations to emerge from the recession.
They claimed they were saving the world...
Ms Mallaber's now claiming "Labour has acted to stimulate the economy..and provide help to the unemployed, businesses and homeowners"
...in fact most of their "help" was just spin
More companies have gone bust in this recession than in any other recession since records began. The VAT cut cost 12 billion pounds and was universally derided as ineffective. The "Mortgage Rescue Scheme" has helped only 92 families in the UK. Less than 2% of the 115 billion pounds of promised business support has actually been given out.
They now claim they'll halve the deficit in 4 years...
"Halving the deficit in four years by going for growth, fair tax rises and curbing less essential spending." Ms Mallaber March 2010
... but they have no idea how
Can you really trust Labour to cut waste? In the same leaflet Ms Mallaber is using the proceeds from the one-off tax on bankers' bonuses twice! - once to cut the deficit, and once to fund new training places. They don't understand the mess they've got us into, even now they're increasing spending. Even the EU don't think their plan to cut the deficit is sufficient.
Labour nearly sent us bankrupt. Don't let them finish the job!
