There is no reason at all to praise Gordon Brown’s economic record – neither as chancellor nor as prime minister. The reality is his myth of eternal growth based on market fundamentalism fell apart in the collapse of the credit boom in 2008. Amid a failing economy, Britain today under New Labour is now a more unequal society than at any time since 1945.
The argument that Brown should be applauded because he used public money to bail out collapsing banks in the crash of 2008 just doesn’t add up. It’s rather like praising a man who has defecated on the carpet and then succeeded in cleaning some of it up.