It’s just worth debunking the myth that Labour are fiscally incompetent. Or they are at least less fiscally incompetent than the Conservatives.
An alternative way to look at the figures is that people only get desperate enough to vote conservative once labour have screwed up the the finances enough. (Purely playing devils advocate)
Regardless which side of the red/blue divide you are on, things are going to have to change fairly quickly as we can’t afford to continue running a deficit much longer.
And that’s what scares me about both sides. JC has a ‘costed’ part of his manifesto, i’ll leave others to argue over that and take it on face value that it’ll work, but he also has ~£300bn of borrowing for nationalisation and infrastructure. I’m even happy to concede that in the long term that may pay off as increased growth, but in the short term leaves us with an extra ~£10-15bn in debt repayments each year, which is money that cant be spent on services, and only digs us a deeper hole.
On the other side of the coin, the conservatives didn’t even bother to cost their manifesto, so not sure how anyone has any confidence in what they are going to do.
Long story short, we’ve all created ourselves a mighty fine mess with 20+yrs of fairly steady borrowing, and at some point in the next 10-20yrs its going to bite us in the ass. The longer we leave it, the harder the bite is going to be.