The terrible truth about Gordon Brown’s criminal miscalculations – A devastating indictment of his time as Chancellor and Prime Minister.
Now available, figures of the “New labour” Government spending before and during the recession, and Government losses since the recession began expose the total cost of Gordon Brown’s mishandling of the economy topped an eye-watering £3 trillion.
The shocking truth about Brown’s overspending since 1997, shows that:
- Since 1997 around £1.5 trillion of taxpayers’ money was squandered on an acceleration in profligate government spending fuelled by an unsustainable economic boom; and around another £1.5 trillion simply evaporated in the inevitable bust
- Government spending more than doubled in real terms since 1997 to the extent that even if a future government tried to trim spending by 5 or 10%, it will take many years, probably even decades, to bring the economy back under control, and this could cost upwards of a further £1 trillion
- Gordon Brown took public spending to a level similar to that of the governments of Harold Wilson and James Callaghan – when the country went bankrupt after Callaghan increased spending as a percentage of GDP to almost 50% forcing Britain to go to the International Monetary Fund (IMF) for a bailout, which was granted on condition that the then Labour government would make significant reductions in public spending.
- Brown’s failure (as both PM and Chancellor) to tackle the public-sector pensions time-bomb means that the projected future costs of public-sector pensions will rise from around £360 billion in 1997 to around £1.2 trillion.
Westminster Governance of the economy is corrupt
Dumping the electorate in the deepest recession in Britain since the Great Depression, the horrifying mistakes, jaw-dropping incompetence and widespread greed and malpractice in Whitehall and the City of London cost British taxpayers over £3 trillion –A pile of banknotes higher than the House of Commons.
Extracted from “Fleeced!” co-authored by Matthew Elliott, CEO of the TaxPayers’ Alliance and David Craig, author and management consultant
Matthew Elliott, Founder and Chief Executive of the TaxPayers’ Alliance said:
‘It would be easy to dismiss the figure of £3 trillion as being too big to contemplate or unreasonably high, but to do so would be to ignore the sheer scale of the financial disaster that twelve years of Gordon Brown’s tax-a-lot and spend-more policies have done to the British economy.
‘In the light of our analysis, £3 trillion is actually a best possible scenario. We hope that Fleeced! finally ends Gordon Brown’s oft repeated and frankly slanderous claim that Britain’s credit crunch began in the United States.
Had this Government not spent at levels far beyond our means while the economy was booming, the UK would have been in a much better condition to withstand the collapse in the US markets.’