"all our troubles being down to the borrowing of the last government"

We've been through this one before. But that's pretty hard to square with the facts.

Our economy is about 17% smaller than you would have predicted at the end of 2007, based on it growing at its average historical rate for the next five years.

That resulted in huge shortfalls in tax revenues, and much higher spending.

If you have a particular view on economics, I guess you could argue that the huge recession, and subsequent period of next-to-no growth, happened because spending on health rose from about 5% of national income to around 8%. But seems a bit of a stretch.

Posted By: Tricky Hawes, Nov 4, 17:55:53