And that was obviously Labour's fault and nobody else's? I think not!
Lots of business people have said to governments over the years, trust me, this is a good idea. Then it's proved to be anything but a good idea.
Over availability of credit is completely different to money distribution. Borrowing may make you temporarily more wealthy but poorer in the long term.
Short term greed often over rules long term steady profit.
Just because the Tories try to portray themselves as the patron saints of business doesn't mean they are, during the last Labour government plenty was done to help businesses of all sizes, as well as attempting to make the situation a little fairer to everyone. Blair, for all his faults, was the best small c conservative PM we have had for a very long time.
You can't flood the bottom with money, the increase needs to be controlled. But, as soon as you put some in it tends to head upwards. While trickle down has proved to be a total myth trickle up has been proven for several thousands of years.
And, as micro credit firms have proven in developing nations, putting money in at the bottom helps those that are willing to help themselves but don't have the resources to start.
labour did encourage banks to lend money. It should never be possible for someone to borrow 5,6 or 7times their salary for a mortgage - its economical suicide.
It also drove up inflation, but thats a different arguement.
As for available credit, Just walk into any shop that offers items on tick. Currys, Comet, PCWorld, etc. even catalogs like
littlewoods, kays & next. Then theres Credit cards like citibank, capital one, etc. Credit was to easy to obtain. It all allowed for iresponsible borrowing.
That is Labours fault for allowing banks to self regulate themselves which was introduced in 1995.
As for distribution look at the debt this country is in.... oh & our gold being sold off when prices was at a record low.
Money fed in at the bottom didnt filter up, it drained out - its been to easy for some to live a life without having to work
simply because of what the state offers. Micro Lending works in developing nations because people have to earn money. They dont have the luxury of rent free living & an income
handout that provides enough money to live with basic comforts. Trickle up would work if it actually went to those who want to do something with the money.
unfortunate there isnt enough money available to people who want to start up a business or expand an existing business. They dont have to be grants, but the goverment could invest for a small share & future profits, etc. Whoever are in charge are usually quite happy to help bigger companies though, Labour helped the car industry with the scrap incentitive as well as the instruction to build houses - & thousands of houses have been built in the last 15 years or so. Both them examples not only offers job creation, but also keeps people in jobs - and not only at the big companies. Smaller companies usually make the bearings,etc. that a certain car model uses.
Labour dont know how to run businesses & Tories dont know how to look after people, they are as bad as each other - but we will always have these cycles as people grow up
under one goverment, people think things cant get worse under the other lot!
