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Ex Highbury NorthBank

Listed below are comments made by Ex Highbury NorthBank between Monday, 27th October 2008 and Wednesday, 29th October 2008.

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The final cost of recession 12:45pm on 29 Oct 2008 The economy has been growing since the Conservatives managed us out of the last recession. Labour paid off some of our net debt. It then reverted to type and set out on a massive borrowing-fuelled spending spree that saw our debt accelerate to over £630bn. It has gone even further now.

The IMF warned it was unsustainable. Labour ignored them. Personal and public sector debt soared. Labour used the excuse that borrowing is lower as a percentage of GDP, but does not count the PFI debt. The net amount owed is far greater than ever before and more than it should ever have been.

The borrowing and debt has increased while the economy was growing - so why is it only now that Alistair Darling talks about reducing borrowing when the economy starts to grow again? It was not done before so why should we believe they will rein in spending in future?
The responsibility of borrowing 5:20pm on 27 Oct 2008 Presumably you resisted pressure to write this piece Nick? Brown said: "The responsible course of government is to invest at this time to speed up economic activity."

Yet we are supposed to believe this means no increase in spending? So this will be just a reallocation from those "essential front line services" we keep being told cannot spare a penny whenever tax reduction is mooted. Come off it.

Who ever heard of a stimulus package funded from within existing spending plans? If this was your attempt to swap jobs with Peston I think you just talked yourself out of the job.

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Ex Highbury NorthBank