Behind the little fib about the worst debt crisis in British history, lurks the real whopper - the claim that when Labour left office Britain faced a debt crisis. This has been Chancellor Osborne's consistent narrative for the last two years. A debt crisis happens when a government can borrow only at ruinously high interest rates.
So here is the recent history of the interest rates paid by the British government:
Can you see the surge in interest rates during the "debt crisis"? Nor me.