Labour didnt have to cope with the backlash of the global financial meltdown, or rather the consequences of it. They dealt with the initial problem, thats fair enough, but its payback time now. Also, Labour inherited a rising economy with the best indicators for a generation, and cash in the coffers. They immediately raided the pension funds for a quick and massive windfall, and plssed most of it away. I'm broadly left-wing and have a strong dislike of the tories, but its hard to argue that they walked into the poker game and got given a winning hand.