Without multiquoting, can someone supply me with figures to show how the UK was "bankrupt" at any particular time, and how different it was at the end of a Tory term of Government? Not to mention the most recent ConDem coalition, with a Tory chancellor who increased debt more in 5 years than Labour did in 13.
Under Thatcher, income tax fell and indirect taxes such as VAT rose. The effect of this is not to reduce the tax paid by the average earner, that didn't change significantly, but to shift more of the the burden to those of lower incomes. Coupled with mass unemployment, the near demise of the traditional apprenticeship, high inflation & interest rates (and a huge increase in house reposession), reduced affordable housing, increasing inequality between the richest & poorest, increased homelessness, two severe recessions, deregulation of the finance sector (which left us little defence in the banking crisis) doesn't strike me as a successful term of Government.
For the record, my opinion is that subsequent Labour Governments did little to address these issues.
Trotskyite unions? Trotsky's view was that Marxism should come about by world revolution; I've never heard a British trade union leader support that. Even the Communist Party in Britain didn't support that.
s for the most recent budget being "Labour", don't make me laugh.