[beemerbird]

Time will tell............in the meantime, all rather amusing.

[prt71]

Originally Posted by NFS

I was quite happy to have only 15% VAT to pay when I bought my car last year.



That's certainly what David Cameron would have you believe. However, this graph shows different:

http://www.statistics.gov.uk/cci/nugget.asp?id=206

In 1997 when labour came to power net debt was about 43% of GDP. This reduced significantly through to 2001 and has slowy risen since.

The 'financial intervention' on the graph is the purchase of the banks. We will undoubtedly get this money back in full (probably with a profit) at some point. If this is netted off then the debt is 44% of GDP as of Mar 10. So in spite being at the bottom of the worst global recession in over 70 years Labour has actually left the companies finances in an almost identical situation to the way they found them in 1997.

Obviously letting the facts get in the way isn't that helpful for Cameron and Osbourne

The real problem is that while our money is locked up in the banks, the situation looks bad. At a time where countries are defaulting on loans and having their credit ratings reduced that is a dangerous situation.