|The Fury said:
Pinning it on Labour only is redundent. The reason borrowing was so high especially at the end was because the way to fix the banks was to basically buy them out with loans from governments. Billions of it they didn't have, in the knowledge that at some point they'd sell that back to private sector hopefully for profit just like Northern Rock...wait, government sold that at a loss, oh well.
No party at the moment is any better than the other, which is why their policies are pretty much the same, this labour is unlikely to be the same as that labour. They are all within the 'safe' area of policies, especially ones involving benefits and national debt. Except with UKIP, I disagree on their main stance so they are the worse of a bad bunch.
Sadly gone are the days of Clinton US when everyone was richer.
But not blaming any of it on Labour is just as bad. You seemed to be absolving them of any responsibility.
Brown, Balls and Millband were a disaster. Balls is a very scary individual. He is a spend spend spend kind of guy who thinks it was funny to leave a note in the treasury files saying "the UK is broke" ready for the next government on his last day.
Borrowing was at record highs BEFORE the collapse and subsequent borrowing. The public sector had grown to ridculous levels and yet spending on health had barely changed and education hadnt increased at all. Lets not get onto the actual privatisation of parts of the NHS under Labour that is the epicly stupid PFI.