Whichever way Labour wants to cut it there should be no doubt in anyone’s mind where the blame for our horrendous economic position lies – with Labour. Yes there was a banking crisis, yes they lent irresponsibly and yes the banks took advantage of the de-regulated market knowing full well the risks they were taking BUT any economist will tell you that there will always be shocks to the system, whether they are caused by indiscriminate bank lending, oil price hikes, south sea bubbles or speculation on tulip bulbs.
What is important is that governments DO NOT get sucked into the easy money trap, there is no such thing. We all remember Gordon Brown’s – No More Boom and Bust – I’m sorry that is just not possible. What responsible governments do is in good times, when the economy is growing strongly, they pay back the National Debt so that when the bad times come we have money left to stimulate the economy and get it growing again, but as we now know from that arrogant statement left by Liam Byrne to his successor David Laws “Dear chief secretary, I'm afraid to tell you there's no money left” what utter contempt the Labour party has for this country and its people.
There is only one word that any Labour politician should start any sentence with and that is Sorry!