Report comment

David the point is that we should not have been in this position.When labour was in power borrowing was at one of its lowest points since the war at 35-40%.The global crash caused by the banks caused a 6% decline in GDP which in turn caused the public debt to increase to 64%. This was not high by historic standards and manageable because of low interest rates.Labour introduced a successful programme of public works as a result of which the economy was growing at 3% in 2010.Sadly the Tories got in advocated a ridiculous austerity programme and has caused chaos from which the country will take years to recover .