Despite the tough talk over the weekend about the economy, it seems the Labour Party is still in denial about the economic mess they left after their time in government. The Labour power duo, Ed Balls and Yvette Cooper, are the biggest culprits. As Gordon Brown’s most loyal supporters during his time as both Chancellor and then as Prime Minister, they were key to providing him advice on economic policy.
Yet, Yvette Cooper, claims that it is a “Tory myth that Labour created the economic crisis.” That conveniently forgets that Labour contributed to the economic mess by deciding that they would go on the biggest spending spree in our economic history. As a result the British taxpayer is spending £120 million every day to pay off the interest on the nation’s debt.
We are told in the Guardian that the Shadow Chancellor, Ed Balls, is going to say in his speech today at the Labour Party conference that, “We will never have credibility unless we have the discipline and the strength to take tough decisions.” So why weren’t you taking those tough decisions three years ago when the economy was heading in to trouble? Instead, you took the easy option at the time by writing blank cheque after blank cheque, without worrying about whether the country could afford a spending spree. It is the failure to take tough decisions then and bring down governement spending that has left us in the economic mess we now face.