Very true and equally irrelevant. The Liberal government borrowed for investment purposes while the Labour government borrowed to maintain consumption. A little fact that Odgers neglected to mention. This is the kind of doublethink that dominates the Left. Right is wrong.
Guilt is innocence and innocence is guilt.
Instead, he directed his venom at the Liberal Government's privatisation program, neglecting to mention that the previous Labour Government had, out of financial desperation, initiated it. Odger's pushed the line that most assets, except electricity generating plant, have been sold below the book value. Book value is simply the written-down value of a company's asset as shown in its books. It does not determine the asset's future value, which is determined by the asset's expected earnings. This is why book values can vary wildly from market values.