Labour not only repaid more often, it turns out: it also repaid much more in total and on average (not shown) during each year when repayment was made.
So what do we learn? Two essential things, I suggest.
First, Labour invariably borrows less than the Conservatives. The data always shows that.
And second, Labour has always repaid debt more often than the Conservatives, and has always repaid more debt, on average.
The trend does not vary however you do the data.
Or, to put it another way, the Conservatives are the party of high UK borrowing and low debt repayment contrary to all popular belief, including that of most radio presenters. Which means that the next time I am presented with that nonsense I will be very firmly rebutting it.
And then we go to his source material.
Debt repayments under Labour in late 40s, yes. Attlee and all, getting it down after WWII. Bit in 69, 70, not sure what that was about. Lawson’s public sector debt repayment of 89, 90.
And then Gordon Brown. No, really: 98 to 2000. That’s actually the bit that drives the whole conclusion. You know, when Brown and Blair had promised to follow the previous Tory government’s spending plans?
The lesson thus being that Labour should sign up for Osborne’s spending plans, obviously.