Lets get ready for the great "Balls" up.

"Balls"

It is a sure fire sign the cretin has finally lost it!.
It was largely the property market that got us into the mess in the first place and nothing has change to make me think it will be any different the second time around.

Usual Labour rubbish. As long as there is no distinction drawn between velocity of money and actual wealth - and they are completely different things - then anything said on the subject by any of the two-and-a-half main parties can be completely disregarded as useless and irrelevant. 

Labour is the party of feckless  tax borrow and spend.   It is financially incompetent as it has amply demonstrated by taking the UK from a surplus in 1997 when they won power  to the edge of bankruptcy by 2010. 

Labour loaded up our children and grandchildren with massive debts so they could continue their borrowing based spending spree. The UK faces ageing demographics so a declining workforce has to carry an increasing retired population  with massive unfunded liabilities. How responsible is it to add debt to these future workers?

Labour policy was to have the public borrowing massively to maintain the consumer economy and hence keep themselves in power.  This policy has lead to the UK being only second in the world to Japan for total debt.

Labour as a party is extremely keen to reduce civil rights of the public at any opportunity.

Labour doubled spending on the public sector without any extra income to pay for it - incompetence on steroids!

It is estimated gross government national debt will could rise close to
100% of GDP by 2015. It is way above the government’s sustainable
investment rule of 40% maximum...

The only way the UK come escape bankruptcy is for the private sector to do extremely well in terms of growth to generate the income to pay off the debt. As a left wing party Labour has zero interest in the private sector which it considers to be almost criminal (as does the left wing EU).

Labour has lost virtually all private sector backing which shows the private sector thinks that Labour today  is anti-business rather than pro-business. There is no way Labour can offer regeneration of the private sector as it barely approves of making money.

Unless by some miracle the UK has serious private sector growth in the next few years the UK is going over a fiscal cliff courtesy of the push in the back from New Labour policies.  

The AAA rating will be lost without growth and debt payments rise. The printing of money has to result in inflation and devaluation of the  currency.