I enjoyed this item picked up by another B-BBC reader….
Here’s a great onefrom the BBC financial whizkids, Labour’s years in power were in fact a goldenage….http://news.bbc.co.uk/1/hi/business/10516338.stm By Andy Verity
BBC2 Money Watch
‘Good times for the country can be bad times for some individuals Here’s athing – the recession made the average household better off. And the recovery has done the opposite – even before new tax rises and spendingcuts come into play. That is the message from a ground-breaking new series from the BBC which askswhat the recession and subsequent recovery have truly done to your wealth.’
The BBC like to say VAT is an evil Tory regressive tax on the poor….but whatabout quantitative easing? This devalued the pound and raised inflation….astealth tax on everyone? Andy Verity is one of the presenters of 5Live’s ‘Wake up to Money’….aprogramme which is sponsored by Alistair Darling &Co…..the favouritereprise of this programme is that the crash was caused by greedy bankers andthe ‘world recession’….not Gordon Brown and Labour spending.
They continuallyback Labour’s plans to deal with the debt…..the example they cite every timeis Japan in the 90’s….unfortunately Japan actually indulged in massivegovernment spending to try and get out of the recession…it took 10 years ofstagnation…and they are still not out yet. This was pointed out to them in an interview. The next day the presenter statedexactly the same thing….Japan made too many cuts too quickly and ‘disaster’.