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National politics

Back to square to one

The big financial news of the evening is that the FTSE 100 index has pushed through the psychologically important 5,000 barrier today. Great.

The FT says:

The gains took London’s blue-chip index to a close of 5,004.3, a gain of 1.15 per cent on the day, and 42.5 per cent above its low of six months ago. The last time the FTSE 100 closed above 5,000 was September 2008, when financial markets were in the grip of a steep sell-off following the collapse of US investment bank Lehman Brothers.

Excuse me if I don’t get too excited. If you look back a bit in time you will see how the Tories made us rich and Labour have made us poor.

ftse-100

Under the Tories £100 invested in the FTSE in 1984 would have been worth about £500 in 1997 when Labour was elected. After two Labour slumps equities are back where they were 12 years ago when Labour took over. Wow! Go away Labour!