David Cameron is correct to say that Labour would lead Britain to ruin, and if proof were needed, we only have to consider the legacy of its past two governments.
The first, from 1974 to 1979, left Britain with 28 per cent inflation and in the hands of the International Monetary Fund. The second, from 1997 to 2010 – successively mismanaged by Tony Blair and Gordon Brown – reduced us to near bankruptcy by encouraging government and consumer spending as a substitute for real prosperity.
Labour simply allowed the economy to run amok, eventually causing the near total collapse of the UK banking system, forcing the government to rescue Northern Rock and the Royal Bank of Scotland, and compelling a reluctant Lloyds to buy the almost broke Bank of Scotland.
How easy it is to forget such events, as Labour leader Ed Miliband peddles the socialist utopia of the future, as though all Labour’s previous convictions had been quashed.
The Conservatives were – as usual – left to clear up the mess after each of these periods of fiscal incompetence, with Labour jeering “Tory cuts!” from the sidelines, while waiting to get back for another bout of tax, borrow, spend and waste.
We simply cannot survive another dose of Labour. As the record shows, there has never been a successful socialist government in the history of the world, never mind in Britain.