Came across this on Facebook today - very interesting read.
Since the Tories were enabled into power by the Liberal Democrats in 2010, the national debt of the United Kingdom has soared enormously. Despite their campaign of "austerity", the debt grew more in the first three and a half years of this Tory government than it did in the entire 13 years of New Labour rule (despite the fact that in 2007-08 New Labour had to deal with the largest global financial crisis in generations ). As regular readers know, I'm no fan of New Labour, however the economic evidence speaks for itself - this Tory government is far worse for borrowing money than the New Labour one that preceded it.
Austerity is a scam designed to do nothing more than transfer wealth from the poor and ordinary to the super rich. It has nothing to do with "saving money" and it never did.
The poor and ordinary have borne the brunt of austerity (wage repression, service cuts, social security cuts, "Bedroom Tax" ...), whilst the super wealthy minority have continued getting richer than ever thanks to extremely favourable Tory policies (the 50p tax cut, corporation tax cuts, new tax loopholes, ludicrously extravagant outsourcing contracts and the firesale of state infrastructure).http://bit.ly/1g19SRNVerification links available.
Topic: Austerity (Read 767 times)
