On the recession induced by both Conservative and Labour Policies
The Conservatives wer quick to condemn Labour as having caused the economic crisis in which we are now embroiled. However they fail to acknowledge that deregulation of the banks and building societies was started by a Conservative administration under Margaret Thatcher - a deregulation which was continued with a vengeance under later Conservative governments.
Blair and Brown merely ‘kept up the bad work’.
Moreover a Conservative administration would not have been able to do significantly better than Labour because all EU member states were compelled to obey EU law (directives 2006/48 and 2006/49) imposing the Basel I and Basel II financial regulations. It was these ill thought out regulations which forced banks into difficulty and precipitated the current banking crisis. They are still law!
So will the Conservatives with their commitment to the EU do any better?
