borrowing astronomical sums of money? So the Sub-prime mortgage crisis which the government had to underpin with billions had nothing to do with it?
Don't anyone kid themselves, no one should kid themselves no matter which party was in power, we would still be in this position because the government any government would be in postion.
If you going to point a finger, you could at the de-regulation of banks, which was pointed out that we would lose or global financial position if it wasn't allowed, most of all by the Tories.
It may interest you to know that Northern Rock have just gone and parceled up £400m in exactly the same scheme so its meet the old boss same as the old boss.
You can without doubt accuse Labour of squandering the money made in the good times. They did this by trying to promote the econmy and get people back into work