March 12th, 2014

Chuka Umunna Economics 101

Chuka Umunna seemed to have had some difficulty with the basic facts during his interview on the World at One this lunchtime. Somewhat worryingly for a shadow business secretary, Chuka reckons:

“Most of our thirteen years in office we didn’t have a debt, er, a deficit, because we hadn’t had the financial crash.”

Allow Guido to explain slowly. As this handy graph from the Spectator shows, the last government spent more than it was bringing in from 2002 onwards.

defici

Chuka’s claim that Labour did not run a deficit for most of its time in power is patently untrue…

H/T @roxley

159 Comments

  1. 1
    Anonymous says:

    Since went has Chuka allowed facts to get in the way of a good story?The man is like all the senior Labour team utterly useless!

    Like

    • 12
      Witty Moniker says:

      I like the way the BBC interviewer immediately jumped in to correct him. NOT.

      Like

      • 20
        Ed Balls says:

        That’s a coincidence, the green bits are the same size as the difference between the blue and the red bits.

        Is that deliberate?

        Like

        • 35
          Rusty Bodangler says:

          Ok, so as well as being a bit creepy, he’s either:

          1. Really, really fucking clueless, or

          2. Telling outright lies.

          I guess there’s nothing to preclude both, but he needs shredding for this.

          Like

          • was it something I said? says:

            The lie is told and was uncorrected. The moment has passed. Those who aren’t already aware of Labour’s economic clusterfuck will remain unaware.

            Like

          • ICouldn'tPossiblySayThat says:

            Hmm.

            Sounds like a Prime Minister in the making.

            Like

          • Morgan's Organ says:

            What a total numb skull and yet so arrogant in his ignorance. Send him to Brussels immediately he’ll do well there.

            Like

          • Anonymous says:

            Lies going unchallanged, Unions, the BBC, global warming, windmills, the EU.

            There is a common theme here.

            Socialism.

            Like

          • Im Voting UKIP says:

            Give Chukka a break…. He’s a fuck-wit, an economic fruitcake and a loon with no business experience.

            Like

        • 37
          Toxic Labour for Spongers, Parasites, Criminals, Peedos, Green Nazis & other Wasters says:

          This is typical of Labour economic expertise. If they get to power they will steal your saving, pensions, houses, cars and anything that has a value. Don’t let these incompetent idiots in.

          Like

        • 136
          Gordon "PRUDENT" Brown says:

          I was never thought of as prudent.

          I merely went around saying I was prudent for a couple of years while I blindly followed the previous Tory government’s spending plans.

          To me, being prudent meant being a Tory.

          Then I went completely doo-fucking-lally and spent a trillion.

          Like

      • 33
        Fony Blair says:

        Think Andrew Neil needs to give a few lessons around economics to BBC interviewers. Most are clueless

        Like

        • 89
          Anonymous says:

          Apart from Neil, the BBC is clueless.

          And with a record like that he must be in line to be sacked.

          Like

          • Fiona says:

            “Do you think that he should be sacked, Hugh?”
            “Thank you Fiona, I’m not quite sure. Let me ask Nick.”
            “Nick, what do you think?”
            “Thank, you Hugh. Well he always has been clueless on economics but I’ll hand you back for more on that to Fiona”.
            “Thank you, Nick” and thank you Hugh”……and so it goes on.

            Like

        • 90
          Anonymous says:

          Plus he should get control of the conduct of his Daily Politics show.It was turned into a Maria Eagle rant today due to her continual interruptions. She needs to be told by Brillo to remain quiet until asked to comment with her views.
          Similarly for other users of the “interrupt” method when they don’t like the answer to a question that is not put to them.
          The squeaker has it right;the answers must be heard.

          Like

          • Angie the Eagle says:

            It was I, not my brother Maria.

            Like

          • John Bellingham says:

            I think that the Labour Training School for Annoying Slags has instituted a course module on “Keep interrupting” to augment their “Keep Shouting” and “Keep refusing to answer a question” segments.
            They all do it, Rachel Foghorn, The one that looks like her, Harriet Harmaphrodite, Caroline (I’ve got a little arab sprog that I keep secret) Flintstone and even the otherwise totally shagable Stella Greasy-Pole have the same annoying techniques. If these women had to make their way in private enterprise they wouldn’t get further than customer service at Tesco.

            Like

          • Clarkksonn says:

            It wouldn’t be so bad if they didn’t immediately start crying, whining and playing the put-upon-feminist card when anyone tries to squeeze a word in when they are ranting.

            As always with the left, it is their utter, blatant hypocrisy that really makes you want to string them up.

            Like

    • 21
      Anonymous says:

      He is a typical example of the Labour front bench , incompetent and economically
      illiterate ,God help us all if ever this shower get back in government.

      Like

    • 96
      M.Clifford says:

      Repeat after me Chuka: “Cock”

      Like

    • 122
      Penis in each armpit says:

      H Harmskids did a good job today for the coalition, what a total dork this person is (I cant describe as a woman).

      Like

    • 127
      Anonymous says:

      Chukka your money away. OMG the depths of ignorance displayed.
      The annoying thing is that the fcukwit Tories are set to double in 5 years the debt that lousy labour ran up in 10.

      The totally annoying thing is that our dumb & profligate have run this country at a deficit ( that’s spending more than you raise in taxes, Mr Chukka YouMoonbat,) for 30 of the last 34 years.

      The fatally annoying part is that this benefits only politicians & banksters, as Soapy Joe Public has to pay interest on the increasing debt.

      That’s the total of all the yearly deficits, Mr Chukka YouMoron.

      I need a pint. Our democracy is bollixed if this is the quality hoping to run our country.

      Like

    • 156
      anonymouse says:

      And of course the Spectator figures take no account of that brilliant wheeze the PFI swindle that build sparkling new hospitals and schools in marginal Labour seats.

      Nothing like buying the votes of marginal taxpayers.

      Like

  2. 2
    Bill Quango MP says:

    And we can assume that’s without the billions upon billions of PFI debt ?

    Like

  3. 3
    Selohesra says:

    Colours are wrong way round red= spending = Labour

    Like

  4. 4
    Average Jo says:

    This is an odd story…. maybe I havn’t spotted it yet, but there doesn’t seem to be an obvious UKIP smear from Guid0 ?!

    Like

    • 23
      Digger says:

      Wait for it, I haven’t given him his latest orders yet.

      Like

      • 95
        B. Rrownose. says:

        Hate to admit it, but guido is fairly balanced when it comes to commenting on all things UKIP. I do not expect this will last come the elections.

        Like

        • 155
          Tim Yeo says:

          That’s right, those of us unfairly smeared by him can attest that it was only because we weren’t UKIP. Had he been balanced, I would have been left alone, as I should have been.

          Like

    • 131
      John Bellingham says:

      There is a new UKIP smear emerging–that Nigel has sex with women. The Libs/Labs/Cons/Greengages have not realised yet that outside of Westminster and the BBC, this is not really considered to be a bad thing.

      Like

      • 154
        Hugh Janus says:

        Sex with women…? I thought kids were more Labour’s thing? Slice of pie, anyone?

        Like

      • 157
        MagicFlute says:

        Thought it almost compulsory that MPs had sex with their researchers/secretaries/interns. Guess the trade off is employing your spouse and keeping the money in the family, difficult call for the member (so to speak).

        Like

  5. 5
    thostids says:

    And where is Balls whilst this load of Balls is being peddled?

    Like

    • 34
      was it something I said? says:

      Balls has been identified by Labour’s internal polling as voter kryptonite. As soon as he appears on TV karate-chopping his way through PMQ or stuttering his way through some bollocks he made up on the spot another 10,000 people go ‘Oh, that c*unt again? No fucking way am I voting Labour’.

      To this end Balls is being given a series of ‘very important jobs’ to do that keep him out of the public eye.

      At the moment he’s copying out the Bradford telephone directory. They’ve told him it’s for postal voting purposes but Labour outsourced that to P*KSt*an years ago.

      Like

      • 100
        Gooey Blob says:

        Balls has been in hiding for quite some time. If only Labour could hide Miliband as effectively they might stand a chance in 2015.

        Like

      • 158
        Cleggy says:

        Balls is a complete and utter tosser, a complete waste of oxygen. He only goes to show how bereft of talent the Labour Party is.

        Like

  6. 6
    Shooty* says:

    Doesn’t matter. He’s said it now, it’s out in the public consciousness, most people will believe it, and very few will be aware as it unravels.

    Like

    • 123
      Peter Grimes says:

      That’s the point, Al JaBeeBa’s, and ZaNuLaBs’ chosen audience will have heard the lie and will believe it – I’ve heard enough of the fuckwits claim that they didn’t run a deficit during their 13 year misrule to believe that it is done deliberately.

      Perhaps Guido can prompt Brillo to ask Chucky to put the record straight next time he grills him.

      Like

      • 159
        MagicFlute says:

        They inherited a surplus and took a surprisingly long time (3 years) to turn the economy around to run in serious deficit mode, and then began spending like a Russian Oligarch with terminal cancer.

        Like

  7. 7

    It cannot be said often enough. Socialism works fine until it runs out of Other People’s Money. Support the Tax Payers Alliance and bring Parliamentary klepto-spendthrifts to book.
    http://www.taxpayersalliance.com/sign-up

    Like

  8. 8
    broderick crawford says:

    get the larynx wipple ready , chukka s
    emitting illogicalities again .

    Like

  9. 9
    Blue Peter Goldfish says:

    Does he take milk?, that will be another 40 p, kerching!.

    Like

  10. 9
    Ed Miliband says:

    It was an investment.

    Remember we saved the world, anyone who says anything else is just a tax evader who wants our kids to starve.

    Like

  11. 11
    Great Granddad says:

    Not fair to Chuka. It is not his own free choice that he is as dimwitted as the people who voted him in.

    Like

  12. 13
    Gordon Brown says:

    The statistics were not corrected. Treasury always been full of Thatcherites who hate the Labour movement, hate the North, hate the Scots and don’t understand I saved the world.

    Like

  13. 14
    Die Bob Die says:

    Lets hope he goes the same way as Robert Crow

    Like

    • 25
      Fuck Labour says:

      Sick bastard. Do you wish all your political opponents death? Did you rejoice when John Smith died?

      As I said yesterday, people can have different politics without personalising it. When you say things like Die Bob Die, you’re no better than the lefties who celebrated Mrs Thatcher’s death.

      Like

  14. 15
    Pleb says:

    Chuka does seem to have had a more illustrious career path than our towel-folding Chancellor.

    Like

  15. 19
    Owen Jones,champagne quaffing and cigar smoking socialist says:

    Apologies for tweeting such inane rubbish recently,but the medication is not yet working.

    Like

  16. 21
    Incapable Vince, deputy Chief Cockroach says:

    Chukla is such a great liar, with a bit more practice, he could be a LibDem.

    Like

  17. 24
    Garfield says:

    Chuka really should be on Comedy Gold along with Miss D Fatbut.

    Like

  18. 27
    A swivel eyed loon says:

    It’s good job they didn’t get wind of his addiction to fast cars, fast women and money laundering. Phew.

    Like

  19. 28
  20. 29
    aurora borealis says:

    +++++Laugh+++++

    labour aren’t exactly very credible economists are they?

    I suspect the five year old’s at our local primary school have a better grasp of the simple arithmetic needed to work this one out.

    Like

  21. 31
    Just Asking says:

    “Those with the broadest shoulders should make the greatest contribution.”

    1. What does that mean?

    2. Why should the individual be obliged to supply such goodwill?

    3. What isn’t the interviewer asking these questions?

    4. I know it’s the BBC.

    Like

    • 50
      Obvious Innit says:

      Bodybuilders should pay more tax?

      If they just taxed steroids in the first place they wouldn’t have to do this.

      Like

    • 139
      Spartan says:

      It’s an excellent way to turn a society of warriors into a supply of slaves.

      Like

  22. 32
    Chuka ( you can call me Harrison ) Urmunneyaround says:

    Like

    • 41
      was it something I said? says:

      Worth listening to just to hear Jon Cruddas say that they really did think they’d discovered the sweetspot of perpetual economic growth. A secret that had eluded every chancellor and economist in history.

      They really, really believed they were that fucking clever and that any nay-sayers were merely jealous because they hadn’t ‘discovered’ it themselves.

      Like

    • 44
      Blair looks in need of revitalisation says:

      Tone looks as if he could do with a ‘visit’ from C arole or Re bekkah, or both.

      Like

    • 51
      Executive Summary says:

      And then he ate a Bogie.

      Like

  23. 39
    Gordon Brown's Bulging Bank Account says:

    Chukanomics: like Abenomics, only minus the credibility.

    Like

  24. 42
    97-Year-Old Lithuanian Woman says:

    In my country we have a saying: Eršketas valgo varles įstrižai, kai mėnulis minkština

    Like

  25. 44
    Sizzla says:

    Classic Labour tactic. Lie and know that only a few blogs will catch you out.

    Chuka Ummuna can’t be trusted to tell the time properly.

    Like

    • 53
      was it something I said? says:

      Indeed. It’ll be no accident. It doesn’t matter that a few political and numerical obsessives give it ‘Hold on a fucking minute….’. Several million people heard the lie go uncorrected so now it becomes the truth.

      Tomorrow, on HYS and CiF you’ll have bedwetters faithfully telling you that Labour didn’t run any deficits. And they’ll believe it. Because they heard it from ‘on high’ with their own ears.

      Like

      • 67
        BBC Red Bottom says:

        That’s how we roll in Salford.

        let the lie become the truth.
        Caroline Flint once said on a 5 ;live interview that 1 in 3 people had taken out a payday loan. ONE IN THREE. so 20,000,000 odd payday loans ?
        It went uncorrected.

        Like

  26. 47
    Luciana BigMac says:

    I can help wiht the maths

    Like

  27. 52
    Anonymous says:

    Labour ran a surplus for each of their first four years of government:

    1998 £ 703 millions

    1999 £11,976 millions

    2000 £16,697 millions

    2001 £ 8,426 millions

    Total 1998 – 2001 surplus of £37,802 millions

    Labour ran a deficit for the rest of their time in government:

    2002 £19,046 millions

    2003 £34,004 millions

    2004 £36,797 millions

    2005 £41,355 millions

    2006 £30,755 millions

    2007 £33,718 millions

    2008 £68,003 millions

    Total 2002 – 2008 Deficit of £263,678 millions

    2009 £152,289 millions

    2010 £148,774 millions

    Total 2009 -2010 Deficit of £301,063 millions

    Net total debt accumulated in the period 1998 – 2008 £225,876

    Net total debt accumulated in the period 1998-2010 £526,339 millions

    Read more at

    http://livinginamadhouse.wordpress.com/2011/10/02/labour-re-writes-the-past-their-economic-management/

    Like

  28. 54
    Guy News Room says:

    Prime Minister David Cameron says “we must all share responsibility for our shameful failure to intervene and prevent the inane tweets being produced by the lunatic known as Owen Jones”

    Like

  29. 55
    Max Clifford says:

    Now say cock.

    Like

  30. 56
    Neighbourhood watch says:

    So. Who is the Bloke in the Brown Mac?

    Like

    • 57
      Good Citizen says:

      Have you reported him to the police Ed?

      Like

    • 62
      was it something I said? says:

      I’m not sure using 5th formers on work experience to sign up more postal voters is entirely ethical Ned.

      Like

    • 80
      RomaBob.... working hard for you! says:

      Is there a PIE shop nearby?

      Like

    • 111
      Idon'tneednodoctor says:

      What does a good response mean? Not an accurate description from a shadow chancellor. There again Balls has no idea on accuracy.
      Seems Ummuna follows Balls lead.

      Like

    • 114
      Gooey Blob says:

      Is this the state of the local Labour representation in Ed’s seat? No wonder Ed’s out of the public eye, he’ll need all the help he can get to retain his seat. Maybe he could get a job selling payday loans?

      Labour lead now down to 3%.

      Like

    • 117
      The Bogeyman is very VERY real says:

      Lock up your children, there’s a prospective Labour MP on the doorstep.

      Like

  31. 63
    Chuka's Ibiza White House says:

    Most of July is booked but Parliament is in recess

    http://www.homeaway.co.uk/p418744

    Like

  32. 65
    Pleb says:

    Sanctions on Russia for illegally occupying Crimea. No sanctions on Isr@el for illegally occupying the West bank, Gaza and East Jerusalem.

    I wonder if Mr Cameron can explain?

    Like

  33. 69
    Owen Jones says:

    BAN ALL IMMIGRANTS!

    Like

  34. 70
    Lord Duckhouse of Pondlife says:

    It’s quoted as “a debt, er, a deficit” – sounded to me like “a debt AND a deficit”.

    Like

  35. 75
    Blowing Whistles 1 says:

    i am sorry to cut across many of the above comments – but Chukka in his own mind actually is ‘correct’ – ‘he does believe it’, ‘he needs to believe it’, ‘he wants to believe it’ he has to believe it’ and in order to maintain his position ‘atop the pile .. ….’ along with so many others who know SFA about SFA – otherwise Chukka may as well give up ‘living the big fat labour lie’ and go and do a eal job – N’est pas?

    Like

    • 84
      Chukka Umbrella says:

      I don’t really believe it. Remember I’m not some brass band, tin bath, outside bog labour troglodyte. I’ve always been Islington Man .

      So no, I just pretend to believe it. But I know its bollox.

      Like

      • 94
        Blowing Whistles 1 says:

        You could say you are a ‘Pretender’

        Pre “Tending” to the sheep that are the Labour voters who know not what marxism truly entails – and just like so many lib dems and conservatives who are also Pre “Tending” to their own flocks of sheep.

        Like

        • 103
          Chukka Umbrella says:

          That sounds about right. But keep it between us. I wouldn’t want The Trash to discover what i really think of them.

          Like

    • 149
      Sacre bleu says:

      French is obviously not your strongest suit. N’est-ce pas?

      Like

  36. 76
    RomaBob.... working hard for you! says:

    Chukka is such a naughty Fukka !

    Like

  37. 77
    Tony Blair is a war criminal says:

    Labour were never in power. If you listen or watch the BBC they will convince you that Gordon Brown was never at the helm of our economy when it crashed and it was ‘Fachur’ and the current coalition that caused all the problems.

    Like

  38. 88
    Gooey Blob says:

    I don’t really know what Chuka’s game is. If he wants the respect of the country at large he needs to resign from Labour’s front bench and start to tell the truth about where Labour went wrong, where Ed is still going wrong and why Labour can only win from a centre-left position rather than the position they currently occupy on the medium to hard left.

    Like

  39. 91
    Thrashing says:

    A former Conservative councillor told a court he saw a man “thrashing around” to get free from MP Nigel Evans on a night out in Blackpool.

    Mark Famosa told Preston Crown Court he had to push Mr Evans off the alleged victim in a bar in the resort during the 2003 Conservative Party Conference.

    He asked a colleague what was going on and was told “that’s just Nigel”.

    Mr Famosa told jurors Mr Evans was getting “closer and closer to the young man, uncomfortably close in my view” and that his nose was almost touching the alleged victim’s nose.

    He said: “I saw the younger man thrashing around very violently from side to side trying to wrench himself free from Mr Evans’ grip.

    “Mr Evans had his hand down the front of his trousers and was maintaining his grip and it seemed obvious that the younger man was not able to get him off him.

    “I intervened, along with several others, in order to assist the younger man to get Mr Evans off him.

    “We pulled him off and pushed him back towards the bar.”

    Like

    • 101
      Blowing Whistles 1 says:

      As of the DM yesterday – when exactly did Conor Burns and his militant politicised homo mafia mates become aware of / know of the 2003 acts – which the DM failed to point to?

      Like

      • 110
        Gay Mafia says:

        Like

        • 118
          Blowing Whistles 1 says:

          It could quite reasonably be stated therefore that – having come into the knowledge of Evans’ conduct Conor Burns MP may well have used that knowledge to further his own career ends for keeping quiet about it … Oh dear the plot thickens doesn’t it?

          Like

    • 109
      Rob says:

      A knee in the fucker’s bollocks, game over. He’d never press charges, as then the whole sordid story would come out.

      Perhaps a double Alan Pardew on the nose too for good measure.

      Like

  40. 98
    It's the cover up that gets em says:

    Like

  41. 104
    David B says:

    And the facts matter because

    Like

  42. 105
    YorkshireLad says:

    God, I’d hate it if he ran a business.

    Like

  43. 112
    Idon'tneednodoctor says:

    Ed Miliband is a man of fudge and confusion.

    Like

  44. 121
    Al Zimmers Campell Strategy says:

    Lie about the debt & deficit. If you tell a lie long enough the fools will believe it!

    Labour are closed to business! That is the reality.

    Like

  45. 124
    Lucretia Burger says:

    You’re a cupid stunt Chukker — bend over so I can ram this strap-on up your arse

    Like

  46. 125
    Nigel Garage says:

    Of course they had both a debt and a deficit the whole time they weren’t following Tory spending plans. Labour are effing awful lying shits of the very first water.

    Like

  47. 126
    Tastebud Tony says:

    So the red line tastes like strawberries, the green one lime, I’m confused about the blue one..

    Like

  48. 133
    Lefties Go Home says:

    Why do they seem to think Chuk-up is a popular politician? He’s as robotic and unintelligible as Red Ed and Ballsderdash. And just when you think it’s safe to go back in the water, up springs Sadiq Khan to usher in a new era of union bullying under the next Labour government: “…What a great legacy for Bob Crow if next Labour Government can increase collective bargaining for future generations”. Fucking nora!

    Like

  49. 134
    parisclaims says:

    Any government that spends more than they take should be disqualified from running for office for at least 10 years. It’s MPs should have all of their assets sequestrated and it’s ministers should go to jail. One exception….inward invasion.
    It’s the only way to stop them, nothing else will do.

    Like

  50. 141
    Anonymous says:

    Chuka is a politician
    Chuka was speaking therefore
    Chuka was lying

    It’s not complicated now is it

    Like

  51. 146
    Graham says:

    Umunna is just a thick fucking Hunt.

    Like

  52. 147
    Nemesis says:

    Now how about a graph showing what the Tories have spent, borrowed and done with quantitative easing (printing money) since they came to power.

    Like


Seen Elsewhere

Small State Keynesians, Anti-Corporate Hayekians? | Chris Dillow
Ruffley Shows Why We Need a Proper Recall Bill Now | Alex Wickham
How is Miliband’s ‘New Politics’ Working Out? | Speccie
State Should Send More Poor Children Private | Sam Bowman
£1 Million Cost of Ed Balls’ Ego | Laura Perrins
William Hague’s Sausage Fest | Rochdale Online
Public Doesn’t Prioritise Housing | Mark Pack
Mysterious Case of Ruffley’s Missing Letter | Speccie
All the Single Ladies (And Lords) | Bloomberg
How Ruffley’s Resignation Became Inevitable | ConservativeHome
We Need a Recall Bill Now | Speccie


new-advert
Westbourne-Change-Opinion Guido-hot-button (1)


Damian McBride writes in the epilogue to his memoir…

“At the time of writing, nine months from the election, I’ve concluded that Labour currently has no positive messages to communicate to anyone about why they should vote for the party, no policies which will persuade them, and is being run in a totally dysfunctional way.”



Rob Wilson says:

Without Predujice

Darling

What time will dinner be ready this evening?

Yours

Rob Wilson MP

In the interests of me I am placing a copy of this email in the public domain.


Tip off Guido
Web Guido's Archives

Subscribe me to:






RSS




AddThis Feed Button
Archive


Labels
Guido Reads