But it does need to be pointed out that under the last Labour government the National Debt increased threefold.
It also needs to be said that On 31 December 2006, Britain made a final payment of about $83m (£45.5m) and thereby discharged the last of its war loans from the US. By the end of World War II Britain had amassed an immense debt of £21 billion. Also the post-war Labour Government, advised by its resident economic pundits, freely chose not to make industrial modernisation the central theme in her use of Marshall Aid.
There is a big picture for those that can be bothered to look for it. Also an explanation of whose policies aided the decline of british industry.