Austerity Myth Busters


In reality the last Labour government raised public spending as a share of total spending in the British Economy just a little, from 38% to just under 41% by the eve of the financial crisis in 2007. The latter is is less than in any year of the Thatcher Government of the 1980’s. it was the bank bail out and the growing cost of unemployment and poverty after 2007 that drove public spending up to around 47% of GDP by the time David Cameron’s coalition took office.
Rob Griffiths. Morning Star. Saturday June 22nd. 2013.

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One response to “Austerity Myth Busters

  1. I take it that this all translates to Labour good Tory bad?

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