During PMQ’s today, Bojo did his best to distract everyone from the utter shambles the Tory party are in and to avoid having to answer any questions at all. His tactic seemed to be simply to attack the opposition and make stuff up. For example, he attacked Labour’s economic strategy calling it “sh*t” and “bust”. The fact is, this couldn’t be further from the truth as recent government stats demonstrate that Tory economic strategy has been strangling UK GDP since 2010.
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In fact, the Office for National Statistics (ONS) data shows that under a Labour government, shortly before the 2008 global crash, the GDP quarter on quarter (q-on-q4) growth rate sat at 3.4%. The 2008 global financial crisis caused by deregulation in the financial industry which allowed banks to engage in hedge fund trading with derivatives caused the GDP to crash and by the start of 2009 the q-on-q4 growth rate had dropped to – 6.1%. However, the GDP growth rate shot up dramatically in 2009 and continued to grow right up until the 2010 General election, when the Tories came into power. In fact the q-on-q4 growth rate had reach 2.3% by Q3 of 2010.
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The ONS data shows that the growth rate was massively stunted after the Tories came into power. It hovered around the 2% mark, dropped as low as 1% and peaked, for a short time, at 3.1% in 2014. The ONS data also shows that the growth rate has been dropping steadily ever since and the latest data is that in Q2 of 2019 it had dropped to just 1.2%.
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I’ve added links and images of graphs showing the ONS data to my post on the Spotlight facebook page here…
https://www.facebook.com/spotlightnewspaperuk/posts/3023380941069729
and I’ve added a link to the post on our Twitter page here…
https://twitter.com/SpotlightNewsUK/status/1169235287383392256
Let’s expose the Tory lies friends, let’s get this data shared far and wide!
Solidarity, always!
Koser Saeed
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