These days even Nigel Lawson and Cecil Parkinson, the architects of the 1980s 'Big Bang' city deregulation, have turned their backs on the financial mayhem they unleashed. The G20 has shown the Tories to be completely out of step with world leaders; Cameron's do nothing approach is not supported by anyone. When the Tories were in power they manufactured two home grown recessions, yes while the rest of world was enjoying economic growth the UK was in recession, and proudly announced it was a price worth paying.

Today the whole globe is in recession, after ten years of growth. It's clear the Tories would have let the banking system collapse, resulting in a total financial meltdown. Even after borrowing to save the banking system, UK borrowing is far less than Germany, France's, Ireland, Italy in fact most European countries. Debt as a percentage of GDP in China is 18.4 per cent, Spain 36.2 per cent, UK 47.5 per cent, US 60.8 per cent, France 63.9 per cent, Germany 64.9 per cent, Italy 104 per cent and Japan 170 per cent.

UK Manufacturing was destroyed back in the 80s and 90s. Remember Thatcher? Mrs T turned the UK into a low wage services sector economy, and deregulated the financial sector. Only last year Osborne was calling for less regulation of the financial markets. Now he has finally admitted they did not support the massive investments in education and health, which, resulted in 142 new hospitals and 1,500 new schools, as they see this investment as the reason the country is borrowing. Had they had their way our schools and hospitals would have fallen down by now. The country voted Labour to rebuild our infrastructure and that's what they have done. Now the Tory spin machine and right wing press wants us all to believe that Mr Brown is responsible for the global economy.

The Tories will do what they always do, create mass unemployment and slash public spending. They even want to make cuts double that of Thatcher did in the 80s, which were huge and damaging and resulted in a massive rise in crime, drug abuse and mass unemployment costing us even more, both financially and in human terms. Sadly the Tories have learnt nothing. They are penny wise and pound-foolish. – Community Cllr Tom Kirton, Thornwell, Chep­stow.