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.”

[gigya src=”https://abfiles.s3.amazonaws.com/swf/default_player_10.swf” style=”background-color:transparent; display:block; box-shadow:0 0 1px 1px rgba(0, 0, 0, 0.15); min-width:480px; max-width:480px;” flashvars=”image_option=none&imgURL=&link_color=steelblue&mp3Author=WikiGuido&mp3Duration=62041.0&mp3LinkURL=https%3A%2F%2Faudioboo.fm%2Fboos%2F1985893-chuka-porkies&mp3Time=02.01pm+12+Mar+2014&mp3Title=Chuka+porkies&mp3URL=https%3A%2F%2Faudioboo.fm%2Fboos%2F1985893-chuka-porkies.mp3%3Fsource%3Dwordpress&player_theme=light&rootID=boo_player_1&show_title=true&waveimgURL=https%3A%2F%2Fd15mj6e6qmt1na.cloudfront.net%2Fi%2Fw%2F160167″ width=”480″ height=”150″ allowFullScreen=”true” wmode=”transparent”]

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



Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Speaking at the Salzburg Summit on the Brexit negotiations, Juncker revealed:

“No decision will be taken here. Whenever the Commission is too flexible things are going wrong.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Twitter Versus the Dead Tree Press Twitter Versus the Dead Tree Press