As seen recently in the news, PM Gordan Brown, has vowed economic upturn by the end of the fourth financial quatre and this year and while yes there has been another quatre of contraction, this was only minor (0.4%). Consequently, there is an upbeat mood in the financial sector, unemployment growth is slowing and businesses are regaining their losses. Essentially, economic recovery is on its way.

However, let me ask a “What if?” question. What if in the sudden collapse of the banks last October had Brown, Darling, the Cabinet and the Labour government had taken a different choice? What if they had done what the Conservatives had been arguing only a fortnight later? A second great depression, waves upon wave of mass redundancy with unemployment reaching 3 million within a matter of months and the British people watching their money flow down the drain along with bankrupt banks.

This could have come to pass. A re-run of the mid-1930s.

Many Tories though like to forget about the first 10 days of that financial freefall. The days in which Cameron, leader of the Conservative and Unionist Party, supported the emergency bail-out of the banks from a Labour government. However, originally enough, Cameron on the 10th day of the crisis played his favourite game, “flip-flopping”, at this critical moment in British Politics, Cameron (who had been sidlelined by Brown’s jetting to different EU and US leaders to organise an international bail-out to help stabilize the crisis) called the wrong shot.

But why do that? He obviously knew that it was the right decision to support the package, as he himself did for a brief period, along with the fact that every other major political party and government in the world was following suit. Ultimatley, we will never quite know Cameron’s change of direction (again). But what we do know is that the decisions that were made by the Labour government, were the right ones, while not saving Britain from recession (as this was evidantly impossible) they clearly reduced its damaging effects and has helped Britain weather this financial storm.

By Max Ramsay, BULS member