Ed Miliband Discusses Admission of Labour over Debt

Ed Miliband, the opposition leader, is scheduled to discuss openly for the first time the fact that Labour is responsible for many of the United Kingdom’s debt problems over the past few years. Miliband will detail ways in which the government was no responsible in its dealings, among other things. This is a monumental occurrence for the government which has had escalating debt problems in recent years.

The main charge which Miliband will supposedly admit to is the fact that Labour put itself in a bad position by picking up too much debt. In addition, Miliband will discuss reasons why the government was not more open and forthcoming with its information about the debt crisis. The debt crisis is largely the responsibility of that government, in that; it did not regulate the banks enough. It also reacted in a late fashion to the need to create a balanced economical position. Miliband will discuss that the government should have been less dependent on financial services for tax issues as well.

This is certainly a new approach for the government, which has previously been very elusive in terms of answering questions or taking responsibility for certain debt problems. This strategy shift was welcomed by a shadow meeting of cabinet, and the concept was also readily accepted as a way to open up discussions on the slow response by Labour in tackling the debt problem.

This stance is likely to be seen as a direct opposition to former Prime Minister Gordon Brown who had been fighting internal battles in Parliament from 2008 to 2009 on the financial crisis. Those opposed to PM Brown were Alistair Darling and Lord Mandelson who preferred cuts of spending. Many people supposed that Brown was not standing for these cuts as they would sacrifice his position politically. Miliband is likely to present commentary on the Brown decision making process as he was a sizable presence during that time. Miliband contends that the Brown decision making left Labour as being named the deniers of the deficit even though the party had actually laid out a plan to cut the deficit in half over the course of 2009.

Other people within Labour have come out and discussed the financial problems with the public, including one official who stated that Labour did not talk early on enough regarding the large problems that came from the deficit. More discipline is needed from the government, and Labour should show the same diligence in challenging the politically charged arguments brought against Labour by the Tories. While Labour is to blame for not discussing the issues early enough, the other far-reaching charges are likely to have been blown out of proportion. Labour officials have come out and said that blaming the Labour government for the debt problem is not advantageous to the United Kingdom, nor is it valid. In the aftermath of the large debt problems experienced during the financial crisis, Labour was blamed for many of the problems experienced by the country’s financial decline.