Leighton Andrews and Corporate Greed - Jenny Randerson Comment

6.04.00pm BST (GMT +0100) Thu 3rd Jul 2008

Commenting on the comments by Labour Leadership Hopeful, Leighton Andrews AM who blames "corporate greed" for the credit crunch, Welsh Liberal Democrat Finance Spokesperson, Jenny Randerson AM said:

"While Mr Andrews is partially right, the biggest fault lies with his party and their handling of the economy over the last 11 years. As Chancellor, Gordon Brown built an economy based on credit. He encouraged the public to 'spend, spend, spend' when what he really meant was "borrow, borrow, borrow".

"He failed to seize the opportunity when times were good, to prepare for the rough times we are seeing now.

"I have no doubt that Mr Andrews is playing to the Trade Union block voters who will elect the next leader of the Welsh Labour party. Maybe they would admire him more if he gave us a more realistic assessment. In a market economy, it is the Government's job to ensure economic stability and Gordon Brown has made a dismal job of doing that, not least through his increases of the tax burden on the poor while constantly aiming to make the lives of the super-rich as comfortable as possible.

"If Mr Andrews really wants to be First Minister, he is going to have to be a little more original than this."

ENDS.