New Labour Lies - Bloated state waste.

From 1996 the tax threshold rose from £261 billion to £348 billion in 2002. 

A rise of 87 billion quid in taxes.

Now whilst this was going on we had a credit boom based on private loans, which was based on the false promise of ever rising house markets. These loans totalled £1 trillion quid.

The reality was that the leading shares in the stock exchange in London had fallen by 10 per cent in real terms since 1997.

Compare that to the German Dax up 18.3 and New York's Dow up 48.2 per cent.

One of the reasons for the stagnation according to the World Economic Forum, was the increased taxation and regulations introduced by New Labour since 1997.

Brown's forecasts were off as well, in 2001 he forecast borrowing £30 billions over 5 years.

He ended borrowing over £140 billions.

Brown boasted of 28.35 million people employed, he did mention that 37 per cent were employed in the public sector, in effect drawing their wages off of taxation.

A meeting on 4th March 2004 of the cabinet chaired by PM Tony Blair to discuss public service reform.

Stats from the ONS showed that productivity in the public sector had fallen by 10% since 1997. In health & education the fall was between 15 and 20%.  An annual cost the ONS reported of some £20 billion pounds.

How long, O Cyclops, will you abuse our patience? How long is that madness of yours still to mock us? When is there to be an end of that unbridled audacity of yours?

Labour & their champagne swilling backers all part of a nomenklatura supporting a leader out of touch with reality.

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