Presvias wrote:^ Well that's...Rubbish . N sea gas & oil fuelled the boom years of Thatcher and even Blair.
Really, that money should have been used to transform folks' lives in Glasgow, south Scotland etc.
It's the other way round...the wee sassenach bastages (incl. moi) owe them much more than a free lunch...
What really fuelled the Thatcher era,along with oil from the North Sea, was privatisation & reductions in welfare spending.
That continued under BLAIR & under Gordon BROWN the nation's gold reserves were sold, debt was increased through financing projects in the N.H.S for example, with PFI, 'Light Touch Regulation' in the financial sector, which created the bubble that burst in 2008 with the financial crash, more welfare cuts, introduction of tax 'credits' etc.
That eventually resulted in the bank 'bailouts', which BROWN promised would actually make a 'profit' for the taxpayers(LIAR), when Labour lost power in 2010 , one of their Ministers, Liam BYRNE,who was the second highest ranking minister in finance to that government, left a note for his successor, which read, "Dear Chief Secretary, I'm afraid there is no money. Kind regards - and good luck!"
Then, along came CAMERON-OSBORNE, the latter, of which, wielded the axe to welfare, the public, civil service employees & retired civil servants such as myself.
On top of that, V.A.T was increased from 15% under Labour, to 20% under the Tories,along with various other taxes, including Council, Stealth, reduced funding for Local government, freezing welfare payments for three years, dishonestly 'adjusting' national statistics by altering the way that the RPI-CPI were calculated in order to reduce annual upratings of pensions & benefits.
All of which were given credence to, by Liam BYRNE's admission in his note, despite Labour's opposition to austerity, they actually supported the Tories policy on austerity, even more, with the higher level of V.A.T now embedded into our system of taxation, they declared that they would keep it at that level-period,such hypocrites they are.