Labour ran out of money!

  Geronimo. 17:57 21 Mar 2009

This morning i was having a chat with a long time friend of mine we met up to discuss something & he's a councilor, he was telling me that its known within his party that Labour have completely emptied "The Cash Drawer" & there's nothing left, this is worrying when u think there is clearly more companies going to be looking towards goverment help & they cant cause they spent EVERYTHING on the bank's

  Geronimo. 17:58 21 Mar 2009

PS NO i'm not a politician or politicaly minded in any way i dont understand it all..

  mikef. 18:14 21 Mar 2009

I presume the friend was a member of one of the other parties

  GANDALF <|:-)> 18:40 21 Mar 2009

As the Govt. needs to borrow record amounts of money one can assume that there is a lack of loot in the coffers. This is not rocket science.


  peter99co 19:14 21 Mar 2009

Has anyone suggested they now all need to take a cut in MP's Salary until things improve

  Forum Editor 19:24 21 Mar 2009

I say the same thing - the government is us, we are the source of all revenues in the UK, and all the money that's spent by the government is spent in our names.

The government is borrowing money because things have gone wrong, and in this country they've gone wrong because people have been people - they've exhibited human failings. The government's failing has been in not recognising the signs soon enough, and in not doing enough to prevent the situation from becoming worse, once it was realised that we were in trouble. In that respect our government has been just like governments in other countries.

To truly understand what needs to be done we need to try to escape from the habit of blaming the government for all our problems. There have undoubtedly been errors of judgment, but ministers aren't superbeings - they are politicians, and they rely for information on experts, and in the economic world there are as many experts as pebbles on a beach, all of them with slightly different ideas about what should or should not be done. We've even got a few self-styled 'experts' here, in the forum, but like most armchair experts they find it easy to be wise after the event - they would probably have made mistakes of their own, had they been in charge of the economy.

It doesn't matter who is in power, modern economies are highly complex, unpredictable machines. We're influenced by what goes on in foreign markets, and they're influenced by what happens here - all of us are tied together in some kind of global economic dance. Those who do best in these situations are the hard-working innovators - people who see opportunities and utilise their skills to make money for their businesses. Those who do badly are the introspective moaners - those who complain endlessly that all this is someone else's fault, and if only we had a different government all would be well. It wouldn't of course, in the end it will be us, the people of this country who pull ourselves out of the economic hole, and we'll not do it by constantly whining about the big, bad government and the mess it got us into.

  Geronimo. 22:26 21 Mar 2009

Peter Great statment BUT i still belive The current goverment has been irrisponcible with all the tax payer's money, we are going into HUNDREDS of billion's of pounds & where do we stand? two million without job's!

i fully aggree it dont matter what party is in the goverment they would of equaly stuggled but the spending would of been differant under a differnant party thats for sure

& now there simply is nothing left too spend.!

  peter99co 23:11 21 Mar 2009

FE I do agree with you.

It is the Northern Rock Fiasco that colours my judgement. 125% mortgages after being bailed out?

It does not seem to complex to me to say no to such outgoings.

  Grey Goo 09:19 22 Mar 2009

It will be interesting to see if attitudes change over the coming weeks and months as the "Sharp End" gets ever sharper.

  Cymro. 11:11 22 Mar 2009

What gets me is that there are gullible people who actually believe that all would have been well if we only had a different government in power, and that all will be well once we get rid of this government and put in a different one.

There are all sorts of countries all over the world with all sorts of different kinds of governments and yet they are all in more or less the same financial crises. This is not just a British problem and even the Americans in the home of capitalism are having their problems.

  Forum Editor 11:21 22 Mar 2009

Unfortunately there are millions of people who believe just that - they think the crisis wouldn't have happened if we had a different government.

They would have thought exactly the same thing if a Conservative government was in power, and they would now be saying precisely the same things. The truth - that this crisis was almost certainly unavoidable - eludes them.

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