I consciously made the choice not to blog during this election campaign mainly because I need to revise and also because there’s been way too much to pass comment on, but today in the special leaders edition of Question Time one question and questioner of Ed Miliband really grated with me. Now I’ll be voting Green on May 7th and I have no shame in admitting I’d much prefer Ed as Prime Minster for a number of reasons but I’d prefer him to shift more to the left hence the green vote. Now the question I took issue with related to the financial crisis, an event I have researched extensively for my dissertation,  and the questioner apparently worked in “financial services”, he seemed to believe that banks were benevolent, faultless institutions that have only brought growth to the economy and seemingly believed that all our economic woes were caused by labour overspending. While it can be argued that the last labour government maybe spent too much that’s not what caused the crisis, recession or the deficit what caused all 3 was banks pure and simple, US investment banks caused a crisis which hit us particularly because since Thatcher our growth has been almost exclusively built on financial services. The crisis effectively forced the government to bail out the banks (something which was supported entirely by Cameron and Osborne) or face a collapse of the UK banking system and it’s this bailout that plunged us into the massive deficit and debt Cameron inherited. The questioner meanwhile seemed to reject claims that our almost unique exposure to the financial sector and the crisis had any role to play in the economic mess, and that someone that actually works in the sector is so naive is worrying. Of course labour weren’t blameless, had the questioner brought up that Brown’s economic policy was too reliant on banks exponential growth or that banks were too lightly regulated I’d of accepted his valid points but instead he chose to take a childish, naive approach of continuing shouting at Ed that they spent too much money. Economics isn’t that fricking simple and it’s a real shame this tory myth of labour deliberately bankrupting the country has gone entirely unchecked. It’s also a shame that the drubbing Ed took tonight will likely lead to 5yrs of austerity max from Cameron and whoever he can trick into office with him.

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