The part of the Blair piece the Tories don't want you to read

In his NS article, Blair says Labour is right to reject the argument that it "created" the crisis by overspending.

As you'd expect, the Tories have seized on Tony Blair's declaration that Labour must not "tack left on tax and spending". Conservative chairman Grant Shapps said:

Tony Blair is right to warn that Labour aren't a credible party of government under Ed Miliband. Ed Miliband and Ed Balls have opposed every single difficult decision this government has taken to fix the problems that Labour left behind - on welfare, on immigration and on the deficit. The only plan Labour have is more of what got us into this mess in the first place - more spending, more borrowing and more debt.

It is worth noting, however, that in his piece Blair explicitly rejects the argument that it was overspending by Labour that "got us into this mess". While conceding that there was a case for "a tightening around 2005", Blair argues that Labour is right to be "very robust in knocking down the notion that it 'created' the crisis." As he points out, the current structural deficit was less than 1 per cent in 2007/08 and the national debt was lower than in 1997. It was the crisis that caused the deficit, not the deficit that caused the crisis. 

Conservative chairman Grant Shapps speaks at last year's Conservative conference in Birmingham. Photograph: Getty Images.

George Eaton is political editor of the New Statesman.

Photo: Getty
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Cabinet audit: what does the appointment of Liam Fox as International Trade Secretary mean for policy?

The political and policy-based implications of the new Secretary of State for International Trade.

Only Nixon, it is said, could have gone to China. Only a politician with the impeccable Commie-bashing credentials of the 37th President had the political capital necessary to strike a deal with the People’s Republic of China.

Theresa May’s great hope is that only Liam Fox, the newly-installed Secretary of State for International Trade, has the Euro-bashing credentials to break the news to the Brexiteers that a deal between a post-Leave United Kingdom and China might be somewhat harder to negotiate than Vote Leave suggested.

The biggest item on the agenda: striking a deal that allows Britain to stay in the single market. Elsewhere, Fox should use his political capital with the Conservative right to wait longer to sign deals than a Remainer would have to, to avoid the United Kingdom being caught in a series of bad deals. 

Stephen Bush is special correspondent at the New Statesman. He usually writes about politics.