There have been a number of letters recently similar to ‘name and address supplied’ on Saturday attempting to absolve the last Labour government of all responsibility for the financial disaster in 2008.
These people probably think that being maxed out on your credit card, mortgaged to the hilt and up to your overdraft limit constitutes financial probity.
It doesn’t, its a recipe for disaster and it’s pretty much what Gordon Brown did to this country.
He inherited four years of continuous growth from the Tories and attempted to continue the illusion of growth by taxing everything he could (except raising the basic rate of income tax), borrowing as much as he could get away with, selling anything he thought he could make a quick buck on (eg half the gold reserves at rock-bottom prices), hiding as much debt as he could (huge unsustainable increase in badly-let PFI contracts) and spending in a thoroughly reckless manner in order to bribe voters to keep New Labour in power. I
n the process he wrecked the final salary pension system and seemingly encouraged the banks to be reckless by almost completely deregulating them, presumably to increase his tax take for more reckless spending.
He also complicated the tax system so much he left it wide open to tax evaders and avoiders and their tricky accountants. The reason Britain was just about the worst affected country by the western financial disaster is almost solely down to the antics of New Labour and Gordon Brown.
Gordon Brown didn’t save the world but did his best to cover his mistakes. On the plus side he did keep us out of the Euro, something I regularly give thanks for but let’s not think he did anything other than leave us with a huge financial headache which will take a long time to put right.