Steve, you are either sadly mistaken or deliberately dishonest in your presentation of data. Where do you get your data for public debt? Total public sector net debt in 2010 was £1350bn, up from £768bn before the financial crisis. The financial crisis was not created by the Labour government, as you so dishonestly allege. It started as a result of the junk loans problem in the US, and was triggered by the collapse of Lehman Brothers. The sudden rise in UK indebtedness, which for most of the Labour government's time in office was well under control, was a direct result of the operation to bail out UK banks, as you ought, but appear not, to know. Under the Conservatives net debt rose inexorably, up to £1887.9bn in 2017, and in 2021 there was a big leap to £2044.1bn, with further leaps in 2022, 2023 and this year - largely attributable to Covid and the war in Ukraine. Basically Labour was keeping net debt well under control before the financial crisis, in marked contrast to the Conservatives, who had already allowed net debt to burgeon in the 10 years of their administration before the pandemic. If you look at net public debt as a percentage of GDP the Conservative record looks even worse (especially since reducing public debt as a percentage of GDP was the avowed (but clearly dishonest) aim of austerity. In 1997 net public debt was 37.4% of GDP. Labour kept it below this level for all the period through to 2007. It was only in 2008 that it rose to 47.9%, then to 61% in 2009 and 70.3% in 2010. However, when the financial crisis was by now well overcome, it continued to rise steeply under the Conservative government, to 98.7%, before the effects of the pandemic were felt. Clearly the pandemic and the war contributed to the enormous increase in public debt from 2020 on, but it is impossible to ignore the Conservatives' inability to contain it in the preceding 10 years. The idea that the Tories had to "clean up the mess" made by Labour is a travesty of the truth.No more of your dishonest claims, please! If you want to question the data, it's all available from the ONS. See: https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicsectorfinance/timeseries/hf6x/pusf
Robert Fish ● 91d