Dawndonnaagain …. May I suggest you wait for my reply to your questions, rather than show your ignorance?
Labour/Brown decided on ‘lite touch’ banking regulation from 1997, Brown even lectured other countries on it, which is why the likes of mortgage lending grew near 5 fold from 1997 to 2008 and the average price of a home, went from £73k to £232k over that period. Why do you think Northern Rock went first bank to go and we were the only country to nationalise our banks in 2007, if our lending/debt excesses weren’t so bad?
UK banks over extended under Brown’s watch, and the financial recession due to a interbank closure worried about ‘contagion’, THEN BECAME AN ECONOMIC ONE – nothing to do with the Tories and all to do with Labour sucking up to the City, including donations from the likes of hedge funds, which is why Labour/Brown lowered the Capital Gains Tax to a 10% tapered low, as if you don’t know, few of the poor care about CGT.
Brown has apologised for letting the banks explosion in credit, would you like to see the link?
As for the Conservatives/coalition borrowing more than Labour, ARE YOU SERIOUS?????
Of course they are, if Labour handed over a broken economy and National Debt of around 1 trillion, and borrowing 157 billion a year, would every prefer they cut over 157 billion each year to reduce it?
As to ‘other countries’, can you tell me another European country INCREASED their spending as much as Brown in the 2000’s and in 2010 overspending by 157 billion, before you look at what ‘cuts’ they needed to make?
www.economicshelp.org/blog/5509/economics/government-spending-under-labour/
France was Miliband’s 2010 ‘economic model’, look at how it worked out for France.
“How Francois Hollande changed but Ed Miliband stayed the same.”
www.trendingcentral.com/francois-hollande-changed-ed-miliband-stayed/
And only Labour would keep raising ‘the jobs tax’ as a plan for sustainable economic ‘growf’’, Ballsian style.
www.telegraph.co.uk/news/politics/labour/7539343/Labours-planned-National-Insurance-increase-will-cost-jobs-Alistair-Darling-admits.html
“In his evidence, Mr Darling defended his plans to increase national insurance, saying it was necessary to raise extra money to reduce Government borrowing, which will be £167 billion this year.”
The coalition, instead of taxing them to death, encouraged them via various reforms - hence we have 1.8 million new jobs since 2010.
Only the Labour faithful would think Labour did not cause the problems, and that lowering VAT and giving discounts on new cars AND raise the cost of employing someone, was any economic plan to address a 157 billion annual overspend and pay off our national debt. lol