{"id":46729,"date":"2019-11-13T06:29:40","date_gmt":"2019-11-13T06:29:40","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=46729"},"modified":"2019-11-13T06:29:40","modified_gmt":"2019-11-13T06:29:40","slug":"the-tories-have-borrowed-67-5-of-uk-national-debt-since-1946","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/11\/13\/the-tories-have-borrowed-67-5-of-uk-national-debt-since-1946\/","title":{"rendered":"The Tories have borrowed 67.5% of UK national debt since 1946"},"content":{"rendered":"<p>In an election where lies will play an important part in the messages some parties will deliver some facts will help. Start with these.<\/p>\n<p>Overall since 1946 and through to the end of the 2019\/19 financial year\u00a0Labour has been, overall, in office for 28 years and the Tories for 45.<\/p>\n<p>In that time according to the <a href=\"https:\/\/researchbriefings.parliament.uk\/ResearchBriefing\/Summary\/SN05745\">House of Commons Library<\/a> net total government borrowing has been \u00a31,618 billion: \u00a3155 billion of borrowing predated that period, most paying for WW2.<\/p>\n<p>Of that sum 67.5%, or \u00a31.092 billion was borrowed by the Tories. 32.5% or \u00a3526 billion was borrowed by Labour.<\/p>\n<p>The Tories have been in office for longer, of course. Restated per year the Tories have borrowed \u00a324.3 billion a year on average in historic prices.<\/p>\n<p>Labour has borrowed \u00a318.8 billion a year on average.<\/p>\n<p>Labour repaid debt in 7 years. The Tories in just 4.<\/p>\n<p>In current prices Labour has borrowed approximately \u00a328 billion a year and the Tories \u00a333.6 billion.<\/p>\n<p>The Tories are always the party that borrows most.<\/p>\n<p>I am not saying there is anything wrong with that. But when the Tories seek to make borrowing a sign of economic mismanagement they need to worry:\u00a0 they are the borrowing party.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an election where lies will play an important part in the messages some parties will deliver some facts will help. Start with these. Overall<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/11\/13\/the-tories-have-borrowed-67-5-of-uk-national-debt-since-1946\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-46729","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/46729","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=46729"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/46729\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=46729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=46729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=46729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}