Sir Nicholas MacPherson, permanent secretary to the Treasury, exposes another Tory lie. 'The 2008 crisis was a banking crisis, pure and simple. Excessive risk had built up in the system; the regulators failed to appreciate the scale of that risk or to address it.'
The Office for Budget Responsibility agrees that overspending did not cause the deficit. 'Looking back at the pre-crisis period, it is hard to argue that tax and spending policies implemented ... were in themselves an important cause of the crisis or the recession.'
My daughter is voting at school. She told me at she wouldn't be voting Labour. Yesterday at the children's hustings the Tory candidate had given convincing arguments that Labour were behind two economic crashes, and she was going Green.