Wednesday 16 September 2009

The three TRILLION pounds Labour blew in 12 years of profligate spending

Daily Mail
"After 12-and-a-half years of New Labour government, £3trillion - that's £3,000,000,000,000 - of our national wealth has been spent, which amounts to £50,000 for every man, woman and child in the country. ....During the economically healthy years, Gordon Brown claimed to have abolished the old boom-and-bust economics.In fact, he made this claim more than 100 times in the Commons alone. But while preaching prudence, he spent more than he collected in tax every single year he was Chancellor. .....Under Labour, the power and funding of quangos has ballooned.Although officially their numbers have dropped from 692 in 1998 to less than 564 today, the number of people they employ has risen from one million to just over 1.5 million.And their spending has risen too, from £49 billion in 1998 to £130 billion a few years later.
.....In the NHS, since 1997 the average salary of an NHS chief executive has doubled to £158,000. And there are 20,000 more NHS managers, costing in total £3billion a year.
.....In education, despite twice as much spending in real terms since 1997, our performance in the Organisation for Economic Cooperation and Development's league tables on reading, maths and science has declined. .....Ninety per cent of Britain's six million public sector workers enjoy gold-plated, index-linked final-salary pension schemes, an increase of 800,000 under Labour.That's helped push public sector pension liabilities up to £880billion, an increase of 140 per cent on 1997."

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