Brown has brought Britain to the brink of bankruptcy
Why would Cameron want to inherit such a mess? If I were posh and rich like him and Osborne I'd be tempted to say "you lot voted for these c***s, they're all yours", and retire to a tax haven.
Far from acknowledging its regulatory mistakes and correcting them – in particular the disastrous decision to strip the Bank of England of its vital role in calling time on debt levels in the economy – Labour is doing nothing to prevent an irresponsible lending boom happening all over again.
Allied to this irresponsibility is a giant confidence trick – that all of this is caused not by Gordon Brown but by someone else, somewhere else. No, Prime Minister: this is your crisis, caused by your Government's encouragement of irresponsible lending and the failure of your regulatory system. Your Government's borrowing has not only made things worse, it has left you virtually powerless to help.
Next year, Britain will borrow more than 8 per cent of its GDP – more than any other developed country, and more than Denis Healey was borrowing when he went cap in hand to the International Monetary Fund in 1976.
Allied to this irresponsibility is a giant confidence trick – that all of this is caused not by Gordon Brown but by someone else, somewhere else. No, Prime Minister: this is your crisis, caused by your Government's encouragement of irresponsible lending and the failure of your regulatory system. Your Government's borrowing has not only made things worse, it has left you virtually powerless to help.
Next year, Britain will borrow more than 8 per cent of its GDP – more than any other developed country, and more than Denis Healey was borrowing when he went cap in hand to the International Monetary Fund in 1976.
Comment