The judgement David Cameron and George Osborne took last Autumn to warn of Britain's looming debt crisis, and about the need for spending constraint, has been entirely vindicated.
OECD figures show just how deep Labour's debt crisis is and reinforces the warnings on debt Conservatives have been making, but which Gordon Brown still denies. The projected record budget deficit is worse than the Treasury forecast, the worst in the developed world and double what it was when Dennis Healey had to go to the IMF.
No wonder credit agencies are reviewing whether to downgrade Britain's AAA credit rating, dependent on spending plans of the government following the next General Election.
If Gordon Brown refuses to call an election, he must tackle the crisis in the public finances he has presided over. I fear he is incapable of doing so. This is another fine mess of a legacy the next government will have to get to grips with.