9. The Financial Crisis


David Cameron claimed Labour ‘maxed out’ the credit card. Although increasing spending on public services, Labour’s overall expenditure as a proportion of the Gross Domestic Product did not significantly rise. Immediately before the 2008 financial crisis, which forced the government to pay out billions to prevent banks collapsing, spending was close to that which it inherited in 1997


“9. The Financial Crisis,” New Dawn? 1997, accessed May 20, 2024, https://newdawn1997.omeka.net/items/show/49.


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