I now understand New Labour’s explanation on finance in the UK.

If the UK economy does well, it’s the brilliance of Gordon Brown’s strategy.

If the economy does badly, then it’s because of the world credit crunch.

Also it’s permissible for Peter Mandelson to hobnob with Russian billionaires because he is New Labour, but it’s not okay for George Osborne to do the same because he is a member of the Conservative shadow cabinet.

Don’t call it New Labour. Call it New Hypocrisy.

Glyn Limmer, Roosevelt Road, Long Hanborough