In one of the most honest but astonishing confessions in modern economic history, Liam Byrne, who at that time was Chief Secretary to the Treasury, told his Conservative successor in a note in 2010 when David Cameron became Prime Minister of the new Conservative coalition, that “I’m afraid there is no money”.
This sums up the Labour record in Government. It is not just 2010 that matters, it is also that every single time the Labour Government has been voted in, sooner or later, their ideological socialist instincts kick in, and we end up with a catastrophic failure and the people of this country revert back to the Conservative Party in Government.
The disastrous smash and grab nationalisation programme of the 1940s after the War, led in only a matter of six years to the return of Winston Churchill as Prime Minister.
The history ever since has been exactly the same, including the disastrous Harold Wilson regime, including his notorious devaluation of the pound, which led to Denis Healey having to turn back from the airport in desperation and humiliation.
Sir Bill Cash slammed Labour's economic record
PA
Labour means, and always will mean, a disastrous economy with ever-increasing taxation.
In this article, I will only repeat my previous warning that voting for Reform will simply guarantee this yet again on a tragic scale, impacting every single person in this country for years to come. My warning is stark, but based on unassailable evidence.
With the Conservatives in power since 2010, growth has been greater than every large European economy, unemployment has halved and there are 800 more people in jobs for every day since 2010.
It is essential to remember that Covid was a global pandemic, and the economic challenges that came as a direct result were not the fault of the Conservative Government.
Putin’s war on Ukraine caused global increases in energy prices and interest rates. Indeed, inflation under the present Government has now been halved, and will soon be even lower.
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Cash claims that under Labour, we would face an economic black hole with massive tax increases on working families
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Lower taxation means higher growth, and higher growth creates more opportunity and greater funding for public services, such as the NHS. Indeed, growth is now 1.5 percentage point higher than the OBR predicted.
With this has come a vast increase in business investment, which raises wages and living standards.
This year, it is about to rise to 10.6 per cent of GDP – which means £30billion more business investment than at the 9.3 per cent of GDP under the last Labour Government.
We must never forget the disastrous Labour policy of spending £28bn a year on decarbonisation, with Keir Starmer’s policy screeching to a halt.
Under Labour, we would face an economic black hole with massive tax increases on working families.
Cash claims that with the Conservatives in power since 2010, growth has been greater than every large European economy
PA
Their economic policies and their economic illiteracy, combined with their socialist ideology, has always led to one thing only – and that is back to Liam Byrne’s infamous note “I’m afraid there is no money”.
He ended the note for his Conservative successor with a touch of humour “kind regards – and good luck!”
This is not what the British people deserve, but they would bring economic disaster on themselves if they were to vote for a Labour Government, as the polls seem to suggest.
Voting Reform will simply provide a copper bottom guarantee that this is likely to happen. Please, dear reader, be warned!