Tag Archives: investment spending

Same old Economic Orthodoxy

In 1997, the Labour Party inherited a balanced budget from the Tories and for well over ten years we had Gordon Brown telling us that he had got rid of the boom and bust cycle. By 2009 the deficit had ballooned to £171 billion, higher than during the recessions of the 1980s, the 1990s and even when the Labour party went to the IMF, cap in hand, in 1976 (another fine mess they got us into) put together.

Economic orthodoxy maintained by Labour and and the Tories for the last forty years or so ensures the same economic models: over reliance …

Posted in Op-eds | Also tagged | 55 Comments

Can the long-term decline in government investment spending be reversed?

Investment spending vs social security spendingIf actual government investment spending bore any relation to the amount of time politicians spent talking about it, Britain would surely have one of the highest rates of government investment in the world. In fact, for all the talk there are few signs of a reversal in one half of the most notable trend in Britain’s public finances over the last half century: the decline of government investment.

I say one half because there is another part of the trend, and it is the flip side of the same coin: the general trend of increasing spending on social security.

Posted in Op-eds | Also tagged | 25 Comments
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Recent Comments

  • User AvatarOld Liberal 26th Sep - 3:49am
    No Michael1, it really is much more than just a very clear message and massive massive hard work as Kingston shows. It is having a...
  • User AvatarMichael 1 25th Sep - 11:58pm
    @OnceALibDem Um.... I appreciate the point. We did do well in Haringey – up from 9 to 15 - and held our ground in Ealing...
  • User Avatarfrankie 25th Sep - 11:06pm
    They must be improvers Glenn they wish to improve things. Unlike most Brexiteers who wish things to return to a by gone age. One set...
  • User AvatarAlex Macfie 25th Sep - 8:32pm
    Yes, take away the areas we gained and we made no gains at all. Funny that.
  • User AvatarIan 25th Sep - 8:15pm
    Take away Remain-central SW London and South Cambs and we made no gains in the local elections at all. It was right that made the...
  • User AvatarAlex Macfie 25th Sep - 8:14pm
    Michael 1: You write "[Clegg] had a very good 2010 election campaign" I disagree. We should NOT have lost seats to Labour in 2010. Simple...