The BBC admit...

The BBC have an interesting piece on comparing the economy in 1997 and 2010, take a look:
Inflation: 1996 ~ 1.9% 2010 ~ 3.0%
Government borrowing: 1996/97 ~ £27bn 2009/10 ~ £178bn
National Debt: 1996/97 ~ £347bn 2009/10 ~ £799bn
Growth: 1997 ~ +3.0% 2009 ~ -5.0%
Interest Rates: 1997 ~ 5.94% 2010 ~ 0.5%
Health Spending: 1996/97 ~ £42.8bn 2009/10 ~ 119bn (Do you feel the NHS is three times better?)
Education Spending: 1996/97 ~ £37.8bn 2009/10 ~ £88bn
Average House Price: 1997 ~ £55,621 2010 ~ £161,320
Unemployment: Jan 1997 ~ 2.23 million Jan 2010 ~ 2.45 million
Personal Debt: 1997 ~ £492bn 2010 ~ £1,460bn

So it's inflation up by 57%, Government borrowing up by 659%, National Debt up by 230% and Growth down from a healthy 3% to negative growth of 5%.

In return for that we have interest rates down albeit because the economy is tanking, massively increased spending in health and education (might this have anything to do with the deficit and National debt being raised?).

Average house prices are up thanks to Gordon Brown's deliberate creation of a housing bubble and I think that might be somewhat linked to the almost trebling of personal debt.

Unemployment is only slightly up but I think that figure needs to viewed with some suspicion bearing in mind the off-the count figures.


So 13 years of Labour rule - on balance good or bad for the economy?