Labour party

[tonywiltshire]

The Labour party did not cause the worldwide economic problems but their actions in Government certainly made the situation worse, they were left a good economic position by the outgoing Conservative Government with plenty of cash, which they spent without considering value for money, and plunged the country into debt.
Would it be a good idea for Mr Miliband and Mr Balls to admit this?

[VHG]

Miliband has, in fact he did a the labour conference a week or so back.

http://www.people.co....akes-102039-23444078/

http://www.thisislond...kes-on-the-economy.do

[jake-the-peg]

They spent by far the most money propping up a poorly regulated banking system that nearly crashed the world economy as I recall.

At a time that Cameron was running about saying there was too much red tape in the city.

If he'd been in power we'd all be queueing for soup kitchens!

Surely Cameron should appologise for that and admit that the city needs more regulation and not less.

then perhaps he can implement changes in less than 8 years!

[bazwillrun]

I'm sure he will if Gordon Brown apologises for vetoing financial regulation that would have curbed the investment banks gambling during his time as chancellor.

[sandyRoe]

Didn't Thatcher de-regulate The City? Who remembers Big Bang Day?

[rojash]

"Didn't Thatcher de-regulate The City?"
Yes, and although Labour were guilty of allowing that to continue, it's very unlikely that they would have been elected otherwise.

[Quizmonster]

http://bit.ly/qZpAcq
Any time someone with apparent right-wing sympathies refers to Labour's supposed financial incompetence, I have another look at the picture linked-to above. Nowadays, I have a special titter when I see, lurking in the background, just who the Chancellor's Chief Treasury Advisor was on that day...Black Wednesday.
I then click http://en.wikipedia.org/wiki/Black_Wednesday to read just how much the Tories threw away on our behalf on that day. Check out all the figures in Paras 1 - 3. Bear in mind, also, that there was no worldwide banking meltdown going on at the time, as there was in 2008..

[rov1100]

You have to laugh when so many critics say its a blessing we didn't join the Euro.

But ever since we came off the Gold standard our currency (the £) has been sinking like the Titanic. Once we could get over $4 to each £, now its about $1.5,

Since the Euro came into existance we have lost almost 50% due to continuous devaluations.

We should take a look at our own failings!