Economics 101

Writing behind the paywall for mass appeal, Ed Miliband told the Times this morning that: “Labour is not to blame for Britain’s debt mountain and accuses David Cameron of peddling a “great deceit” about the previous Government’s record to pursue a damaging programme of cuts.”

He claims:

“What is this deceit? It is that the deficit was caused by chronic overspending rather than a global financial crisis that resulted in recession and a calamitous collapse in tax revenues.”

Last time he made such absurd claims the Spectator provided Red Ed with this handy graph. Perhaps he could explain then why the last government was spending more than it was bringing in from 2002?

If he gets stuck perhaps he could ask Alan Johnson…




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Quote of the Day

Stephen Bush writing in the New Statesman‘s morning briefing…

“The terrifying truth is that the Opposition is too divided – within the parliamentary party, within the trades unions, within the Shadow Cabinet and even within the leader’s office – to be anything other than a veto player as far as Brexit goes, and the party’s whole gambit is really about trying to make that weakness look like a strength. Keir Starmer saying that Labour is “increasingly likely” to vote down the deal is simply a reflection of the fact that the one thing the Labour party will be able to agree on as far as Brexit goes is that Theresa May’s deal is no good.”

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