Watch George Osborne say in 2007 that the Tories would match Labour spending

3rd May, 2015 7:58 pm

The Conservatives have regularly said that the 2008 financial crash was caused by Labour’s spending – ignoring the facts which say that it was down to lack of regulation of the banks. That’s something Osborne’s own Permanent Secretary now acknowledges.

Yet a fact Labour have pointed out time and again – and the Tories have conveniently ignored – is that the Conservatives backed Labour’s spending plans.

Here’s proof of George Osborne, then Shadow Chancellor, saying exactly this in 2007:

Here’s that crucial line:

https://vine.co/v/eZzul56rlZW

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  • Bogbrush

    Never mind Steve Coogan, this should have been in every single party political broadcast since 2008. Osborne’s words should have been on the lips of every single questioner, every single journalist every time the deficit is mentioned. Why is there a conspiracy of silence about this fact – why won’t the media ever bring it up, it seems to be THE defining issue of the last seven years and it contradicts everything said by the Tory party.

    • Michelle

      Absolutely. If I had a pound for every time I’ve shouted at the TV because an interviewer or a labour MP has failed to raise this, I’d be a millionaire.

      • g978

        Labour never brought it up, don`t blame the media. The media is lazy, just like Labour can get away with saying the Tories will privatise the NHS and disband it. They said it in 1992 – not true, didn`t happen. They said it in 2010 – didn`t happen, not true but they get a pass.

  • g978

    You are correct that Osbourne supported Labour’s spending plans. That doesn`t mean they didn`t overspend, just that the Tories would have also.
    I recall in 1991/1992 Labour saying the UK should join the ERM, at a higher exchange rate than we actually did. Come 1992 we exited the ERM causing the Tories to have a lasting deficit on economic credibility. Didn`t matter that Labour advocated the same policy and if they had won in 1992 would have had the same issue. Those are the breaks, accept it.

    We were ill prepared for a recession, running c lose to a 3% deficit in the 14th year of economic expansion. That was wrong. It was anti-Keynesian. Keynesian economics calls for surplus in good times to pay for the bad times. We had, after Greece, the highest deficit in the western world. We were hit harder than almost any other country. You don`t think Government policy had anything to do with that?

  • Matthew Blott

    Why Why Why Why Why didn’t Ed Miliband mention this to that northern loudmouth on Question Time last week when millions of people were watching?

  • CrunchieTime

    Finally an article on LabourList from which only one conclusion should be drawn and with which I completely agree.

    Both Labour and the Tories are equally clueless, useless, reckless and short termist.
    Don’t vote for either of them, because they are identical.

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