AFTER 13 years of Labour government the country was left with the biggest budget shortfall in the developed world.
This was less to do with global economy, the banks or toxic mortgages. It was much more to do with the Labour government and their Chancellor choosing to spend more and more and maintain a feel-good factor at any cost.
Our budget deficit of £155bn is the highest in peacetime history and the highest in the G20 group of nations. It is no wonder the architects of that overspending have disappeared into the woodwork.
The national debt in May 1997 was £351bn. Under Labour it has more than doubled to £893bn in 2010. So when a Labour Treasury minister left a note saying “Sorry, there is no money left” this was no flippant joke.
Expenditure must be reduced.
There is all-party agreement on that and the elected Government has made its plans to do this.
We may not like some of it, or none of it, but we better get behind it as the consequences of failure are catastrophic.
Charles Johnson, Darlington.
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