Mandelson Vs Clarke on UK's dire economy, part1 (26Jan10)

Part 1 of 2: Peter Mandelson shows he's had something funny in the way he claims that New Labour are the party to trust on the economy, when it was New Labour that stole from private pensions, and savings, gave it to the feckless, and they went on a free for all spending spree, along with the New Labour government who racked up £2.5 trillion of debt for what little taxpayers are left to pay off.

Recorded from Channel 4 News, 26 January 2010.

Category:

News & Politics

Tags:

• peter
• mandelson
• new
• labour
• created
• uk
• recession
• depression
• ken
• clarke
• tory
• conseravtive
• economic
• recovery

[DantesObjective]

Government produces NOTHING. Intervention into the economy destroys business, creates monopolies and does NOTHING toward economic recovery. Cutting back on government spending and opening up the market to the private sector will facilitate a real recovery.

[liarpoliticians]

It's what I was shouting at the tv when Mandelson said it. How can "government spending" make a recovery when the public sector produces nothing for the economy, and is just a bottomless pit of private sector cash to vanish into.

In the second part of the interview Mandelson does not say he wants the public sector cut, whilst Clarke says it's already over 50%. Mandelson has no problem with having an economy where most people in it produce nothing at all.

That's why the UK is so screwed.

[sinclair61]

Peter, just because you keep on saying that the economy is "going great" really does not mean that it actually IS. Grow up, and remember your oath of office you treasonous bastard.

[warriorprince1010]

True. 0.15 is not growth by any sane person standings.

[warriorprince1010]

Grow up. The UK needs 2% growth minimum. 0.1% cannot be measured it could just as easily be -0.1%

[scottc9100]

how is 0.1% not growth , a maths refresher course is required.

[sugarraygras]

@delatroy 200 billion of debt to produce 0.1% of growth is no growth at all. Inflation has risen by 1% which technically cancels out any supposed recovery. As of yesterday the bank of england has halted QE.

[atwali]

On the one hand it is painful to watch, on the other i'm glad to see an end of the cowardice that prevented Ministers from engaging in debate. Too often John and co report "No Minister was available for comment."

[warriorprince1010]

There is no growth, 0.1% is not growth. The high taxes of Browns scorched earth policy are preventing growth.

[OghamTheBold]

I'm confident about the economy - but I do have an emergency tin of SPAM

[delatroy]

00:47 'support'.. The only reason why the UK has any kind of growth is because of government spend. This isn't legitimate growth by the private sector... its just government incurring debt. There can be no recovery until 'the support' is removed.

[Mackingster]

Point to the a brick wall so I may hit my head against it.