Labour's 13 years of poor administration must bear full responsibility for creating this deficit. Dysfunctional yellow streak Brown removed the regulatory powers from the bank of England in 1997 that let some but not all bankers to practise casino banking. His replacement with the FSA was nothing more than a toothless hen. Remember he ended 'boom & bust'? And saved the World?
Red Ed hasn't a clue where to start, he is hopelessly trashing around with his 'blank sheet of paper' with no positive policies. He could first profusely apologise for Labour's hand in ruining our pensions, ruining our savings, ruining our jobs, ruining our businesses, ruining our standard of living. But no, this pathetic character will continue to use negative rhetoric to falsely mitigate the unions pressing the self-destruct button. The electorate know Miliband has no credibility and these severe financial constraints being implemented now are a direct result of the former administration's failures.