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fiscal sick man
I wonder if bonfire of regulations also meant removing limits on borrowing money? It's ridiculous that the deficit after Cameron's election in 2010 far exceeds that of the Blair years, yet hardly any Tory voter would beleive this you if you told them.
starfish&coffee-
It's ridiculous that the deficit after Cameron's election in 2010 far exceeds that of the Blair years, yet hardly any Tory voter would beleive this you if you told them.
Looking at the chart, I think it's saying we borrowed a shit load of money to bail out the banks in 2008 / 9 and (not surprisingly) we can only pay that money off slowly over time.
It might also be that they measure the debt against the GPD of that year, so if in 2009 (presumably the year you are referring to) our debt stayed constant but our GDP shrank, it would look like our debt increased....
tl;dr I have no idea what I'm looking at, but I'd be surprised if Cameron and co. spent more money than Blair did, but I wouldn't be surprised if our economy contracted heavily post 2008 increasing the debt as a %GDP
Howard
Narrative violation in the FT today. Makes the Italy comparisons look excessively flattering for the fiscal sick man of Europe