I think you misunderstood, me, Zippee He introduced working tax credits... as a response to the crash.
He increased all other tax credits, vastly increasing the welfare state bill and setting the scene for higher dependency on such credits. He introduced then took away the 10% tax bracket, 22% reduced to 20% - extra taxation on the poorest. A weird mish mash of contradictory moves.
He did some of it in order to allow businesses to be able to continue to emply people on low wages, topped up by tax credits, as UK businesses needed support. But, as with the tax credit system, what should have been only a temporary measure, until the economy picked up, it became more entrenched... now resulting in yet more NMW changes and small insignifcant changes to zero hours contracts, few prosecutions of employers who flout said laws etc etc (think Uber etc).
Selling gold reserves at a stupid time further undermined financial stability.
I am not saying he is the SOLE architect of today's increased dependence on welfare, tax credits etc. But that he had a large hand in laying the groundwork for more recent issues.
And I say that as a once staunch Labour member who is now politically homeless!