Tesco Chairman Sir Terry Leahy has announced he will resign next March, Sir Terry is probably one of this countries best business men and what he has achieved at Tesco really can not be overstated. The facts however are these:
Since 1997 Turnover has risen by 310%, Profit has risen by 341% and the value of the company has risen by over 230%.
In the same time New Labour took the UK economy from a Budget Surplus of 1.9Bn to a Deficit of 176Bn or a drop of 9778% in economic performance. Perhaps it would have been better for us all had Tesco been given control of the budget instead of letting Labour control it.
One last thing, a request for some information from my readers who know more about 20th century politics than myself, As I was looking up the budget difference between 1997 and 2010 I came across this comment “Under Tony Blair, Britain’s trading performance has been worse than under any of his Labour Predecessors. Worse than under Clement Attlee and Harold Wilson, both of whom had to devalue the pound when trade figures turned nasty, and worse than under James Callaghan, who was forced to seek help from the International Monetary Fund.” (Guardian – Feb 2007)
It has led me to ask the question, have we ever had a Labour majority administration that did not wreck our economy?
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