Tories did not lay waste to the economy, but the myth suits Labour's campaign message
Briefly

Labour is coming to power at a tough economic moment, painted as inheriting the 'inheritance from hell' by the Conservatives, allowing Labour to blame them for tough decisions.
Contrary to conventional wisdom, the economy is not as severely devastated as portrayed, with new government having the advantage of low expectations and existing challenges.
Read at www.theguardian.com
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