I often think of the Harry Enfield character when I see Labour politicians saying daft things about our economy. We know that the bankers were responsible for the financial crisis in a big way but Labour were spending and borrowing like there was no tomorrow. I have no doubt that the cuts we are having to face now would not be so significant if Labour had been more prudent with our cash. The tax revenues of UK plc were never going to match Labour’s spending plans so they simply borrowed more and more.
But have Labour learned? I suspect not as their chant now is along the lines of the cuts do not need to be so harsh! If only they had said the spending and borrowing does not need to be so big when they were running the Country.
Labour can duck and dive as much as they like in opposition but I, like many other public sector workers who could be made redundant, know that they had a good hand in getting us into this mess.