Mr Prescott said people should blame the City, not the last government, for the scale of the deficit facing the country and its future impact on public services such as new housing.Off the top of my head, is it possibly because their government's took the same irresponsible approach to state finances as the one you were a part of?
"Don't be silly, that was an international problem. Why is it that US, Spain, Portugal, Greece have all got similar problems about debts."
It's thoroughly ridiculous to claim that, because other people have made the same poor decisions as you, none of you should be held responsible for those choices. I wonder what Prescott's response would have been if, when the scale of problems at RBS came to light, its senior management had taken the same approach and claimed that, as other financial institutions were facing similar problems, they clearly couldn't be blamed for those problems.