Really? Better tell that to those awful left-wingers in the IMF, then!
Not awful, just incorrect both ways on occasion.
And the left wingers in those incredibly unsuccessful high tax rate countries like France (top corporate tax rate 32%), Australia (30%), Germany, (29.9%), Sweden (top personal income tax rate 60%), Denmark (55.9%), Japan (55.8%), etc.
Is France successful? Wasn't particularly under Holland, I think Marcon has reduced tax rates as a lot of French business people were moving to London.
Swinson, like the other LibDems, hasn't been unequivocally supportive of austerity, but did support the main aims. I think it was mistaken economics- I think then was the time to invest to keep the economy going- but it was something Labour were just as in favour of.
That is, unfortunately, complete nonsense and has been proven to be so.
The richest 1000 families in Britain have more than doubled their wealth in the ten years since 2009. This has not translated into a rising economy; real earnings for people in their 30s are 10% *lower* than they were in 2008, despite the cost of living increasing. Wage deflation was previously unheard of for a long time.
Public debt, meanwhile, has also doubled in the ten years of Tory rule. The structural deficit has reduced but is still higher than under New Labour, and the deficit has only reduced because of sell offs of state assets. Those sales can't be repeated. Tax revenue has stagnated; we get more tax off the poor and less off the rich.
The Tory idea of "trickle down" has always been nonsense, and austerity has proven it beyond all doubt. The rich are vastly richer and they HAVEN'T spent it in the economy, they've hoarded it in tax havens. The rest of us are now significantly worse off- my generation are up to 20% worse off- than if austerity had never happened.
"Tax and spend" is not a dirty notion. It's how you run an economy. In lean times you invest to keep things moving, surpluses should only happen in boom as you recoup your investment.
Invest to keep what going a bankrupt failing economy with a huge deficit? Crazy Greece style economics IMO, obviously we wont agree on this.
In your opinion it is nonsense. In my opinion (Corbyn's Labour view) on high tax, high state ownership, heavy unionisation, punishment of aspiration, taxation and spend economy is doomed to fail, it often does, this is also complete nonsense. Corbyn's biggest economic hero is Chavez and Venezuela which pretty much says everything we need to know about his and McDonnell's economic policies and how catastrophic they would be for wealth and jobs in this country.
Its not perfect but no country is, we now have less people paying basic rate of tax, more jobs, a higher minimum wage, better pensions provision, the rich will spend in the economy creating jobs in our service sector, banking, retail, travel, hospitality, luxury goods all create jobs, take away these people and spending power there are a lot less jobs and money. The rich own businesses, they pay for training, they pay wages, they pay pensions. They can not and should not pay for everything. If you drive them away, the state will be picking up a much bigger welfare bill for starters.
Of course public debt has increased, this is due to the £160 billion deficit left by Labour that had to be reduced gradually. I can just imagine the absolute public sector carnage had they reduced that spending overnight. I am not sure where you get the idea the poor pay more tax? The rich pay a much larger percentage of tax in this country.
Like the referenced Germany did, it is wise to run a surplus during the good times to cover you during the bad times.
Brown did a good job until about 2003, then for some reason he began spending more than we bring in. We should not spend more than we can generate at any point, especially during the bad times. Its never going to end well. When you completely run out of money the implications for jobs and prosperity for a lot of people are a lot worse.
Either way I guess we wont agree.