Labour has left Britain with the largest deficit in peacetime history. At the moment the National Debt Clock is currently at £938 billion and the Government forecasts that this will rise to £1.1 trillion by 2011.
The UK’s budget deficit this year will top 11% of GDP compared to the 6% deficit when the country went bankrupt in 1976. If we don’t act on this problem now, then within five years Britain will be paying out £70 billion per year on debt interest alone. This figure is more than we spend on education, policing and defence. The current debt interest is £42 billion which is more than is currently spent annually on defence. This means we owe £15,010 for every man, woman and child in the country, which is more than £32,457 for every person that is currently in employment. On top of this every household will have to pay £1,839 a year just to cover the interest. These damning statistics prove the theory that all Labour Governments end in economic failure.
It is now up to the Coalition Government to clean up Britain’s economic problems. While one party created the mess, our two parties have come together to deal with it.
Hello, and thanks for visiting my site! As the Conservative MP for Blackpool North and Cleveleys, my job is to serve the interests of my constituents and represent their concerns in Westminster. Hopefully, my website will bring you a little bit closer to what is happening and how you can get involved. Find out about where I stand on the things that affect us locally and how you can share your thoughts with me by using the links at the top of the page. I look forward to hearing from you!
September 22nd, 2010 at 5:43 pm
It is of course always the Conservative Party which has to clean up the socialists’ mess. Remember how in 1997 the media laughed when we campaigned under the slogan “Britain is booming – don’t let Labour waste it” ?
Very impressed by Paul’s activities in Parliament.