Monday, April 14, 2008

There will be no return to boom and bust economics under a Labour Government

Oh really????

This shows that the FTSE as a measure of British companies worth over the last 24 years. A gradual improvement during the Conservative administration punctuated by the 1987 crash, but that was a rapid fall followed by an immediate return to a steady growth.

Under Labour there has what can only be described as a boom and bust on steroids. After 11 years of labour mis-rule the FTSE is now barely above what it was when they came to power in 1997. Allowing for real inflation, that is quite a big loss in value in real terms.

From 2000 the FTSE went on a downward spiral for 3 years. NOTE this stared over a year before the terrorist attacks on New York that closed the NYSE and actually, the stocks recovered for a while after 9/11 before collapsing further as shown below:

The FTSE fell and recovered for a few months, before continuing the slide that started in 2000.

The Boom and Bust economic policy employed by labour has been continuously mis-reported by a media enthralled and seemingly mesmerised by Tony Blair.

It has only taken 9 months of the Brown Government for the spell to be broken and for people to see what I have been seeing since 1997.

Labour are bereft of economic competence and have been destroying the economy for years.

Now Gordon Brown is DOUBLING the tax on the poorest workers. He has NOT aboliched the 10p rate of tax, he has DOUBLED it!

He has no ideas left, he squandered the golden economic legacy of the Tory years, he has stolen and squandered the value in private pensions and he has squandered the nation's gold reserves at a time when Gold's price was at rock bottom.

There is only one party who has shown a boom and bust economic mis-management of our economy and that is the Labour Party. This is NOT a recommendation of the Conservative party, merely accurate critisism of the Labour party, and a comparison with the previous Tory administration that was rightly booted out of power in 1997.

It is just such a terrible shame that it was the disaster that is Labour, and not a PRO UK party, that took over in 1997.

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