Labour Spending Shock

Finally, the worm has turned – but why did it take so long? Ed Miliband, facing a (carefully selected?) hostile audience, answers the question “Would you agree that the last Labour government was extravagant?” with a confident “No.” Said audience, fed weekly doses of this myth by the Tory propaganda machine (with substantial help from Today), gasp in astonishment. But he’s right, and some economists have been saying that for months. Yet for some reason, Labour have decided that they can’t challenge that very partial view of where the money went (bailing out the banks? damaging wars in Afghanistan and Iraq?), and that only believers in austerity can come to power. Yet now, very much at the crunch, Ed finds the nerve to tell the truth, and everyone thinks he’s lying.