Monday Open Thread

“Why don’t you look at [public expenditure] as any housewife has to look at it? She has to look at her expenditure every week or every month, according to what she can afford to spend, and if she overspends one week or month, she’s got to economise the next. Now governments really ought to look at it from the viewpoint of ‘What can we afford to spend?’ [The Labour government has] already put up taxes, and yet the taxes they collect are not enough for the tremendous amount they’re spending. They’re having to borrow to a greater extent than ever before, and future generations will have to repay. Now, if anyone tells me that a Chancellor of the Exchequer can put up public expenditure in two years by—and it’s a tremendous figure—twenty thousand million pounds, and he doesn’t know where to get it down by about three thousand million pounds, then he ought never to have been in charge of the nation’s finances … I think they’ve made the biggest financial mess that any government’s ever made in this country for a very long time, and Socialist governments traditionally do make a financial mess. They always run out of other people’s money. It’s quite a characteristic of them.”

Margaret Thatcher



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