Quote Originally Posted by TISS View Post
Perhaps, given policy would have been different e.g. we may not have light touch regulation although I doubt it.

don't get on your high horse about Labour being at the tiller. It happened when they were in power. If the Tories were in power it may also have happened as I imagine regulation would have been no more stringent than under labour.
I have no doubts that the same would have happened had the Conservatives been in power, which is why it is utterly hypocritcal of them (or their voters) to blame another party for doing exactly what they would have done. However, this is what has happened. The interesting thing in all of this is that not one single independent fiscal organisation have agreed with the Tory mantra that Labour's spending helped cause a crash. Indeed, the BoE, IFS, OBR have all said the opposite.