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  The Conservative Party went wrong with the economy only when Lawson tracked the DMark and Major, as Chancellor, joined the ERM against the warnings of Mrs T and Alan Waters. That though was corrected when ERM collapsed in a shambles as a lesson against the even more crazy Euro, so we have to be thankful that the lesson was learnt when it was and in so doing avoiding far worse problems now.
  
  No, the present economic problems stem from when Labour came to power with the daft inflation brief to the Bank of England, the switch to the FSA's regulation of the banking sector, the discouragement of savings. Then of course it gathered pace from 2001 when the manifesto imposed curbs on Brown's spending ended and he went of that insane spending spree at the point in the economic cycle when he should have balanced the deficit.
  
  In a way you are right Alex but the recent housing/debt bubble stems from the impact of what I just referred to under Brown. The result of his measures kept interest rates lower for a lot longer than they should have been. It didn't pay to save and was cheap to live on credit, thanks to Brown.

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