Correct.....

But....(and huge but)......

The economy was following an upward trend in the late 1990s and the PSBR (now the PSNCR) had been falling rapidly under the Conservative adminstration anyway.

This strongly suggests that the PSDR under Labour was a consequence of Tory economic policy.

Given that since 2002, the National Debt as a percentage of GDP has sharply risen, it can further be suggested that the trend has now been reversed as long term Labour economic policies have taken effect.

Posted By: BeverlyHills0201, May 6, 14:05:10