Brown Is Innocent .

Chris Dillow examines Brown culpability for Le Crunch and in a reasonable post argues that the accusations are pretty gaseous; I rather agree with him . I doubt any regime would have averted much of this. This is ,however, less obvious than in the case of the ERM debacle where the Conservative Party were the only ones with doubts and that is the “political” point . Had the Conservative Party been immediately acquitted of the ERM stigma and Labour not profited from a debt driven boom then we might call it quits .
I would go further ,dewy eyed perhaps, I would like to think a Conservative administration would have watched money supply a tad more and it is also certain that a lower tax regime would have created more wealth .
Better immigration policy, combined with shifting the sick note 2,000,000 would have helped us recover sooner .The 800,000 joining the state payroll to look after the subsidised poor are a fiscal dead weight we could do without whilst drowning .Had Brown not largely borrowed to fund this splurge and instead raised taxes then we would have far more scope for direct help. Had we reformed the public sector it would not be the money sponge it now is ....and so on.
Chris makes good argument because it is a Conservative one . He says in effect that Brown was forgivably ignorant , not a magician . He was actually a little silly cork bouncing on a stream of events he did not understand .
Well yes ; that we may well not know what is going on is why people are conservative , that the state is even less likely to know is an even better reason. This hardly saves a big state control freak. who think he knows everything. RIP Bean
Epitaph
In many ways now is easy bit for Labour .They are no less popular now than before this unpleasantness began .When the stories are gone and the taxes have to be raised .When inflation is stuck in the system , services are cut and unemployment stubbornly staying up at 3,000,000 then you will see the true fall out . The toxic legacy for Labour has not even begun .