Blair: Labour must not ignore deficit

Tony Blair writes in his memoirs about deficit reduction and the Labour economic strategy:

“If Labour simply defaults to a ‘Tory cutters, Lib Dem collaborators’ mantra, it may well benefit in the short term; however, it will lose any possibility of being an alternative government.

“We should also accept that from 2005 onwards Labour was insufficiently vigorous in limiting or eliminating the potential structural deficit … Labour has no option but to be credible in its own right. That means, as I say, having a coherent position on the deficit.”