I am not a Tory, I be a card carrying Liberal Democrat for 12 years (and counting).
Not all countries suffered as we did - the reason why the UK collapsed so harshly was exactly because of Labour's economic illiteracy. To borrow so much, to spend so wildly, and to ignore warnings about costs spiralling in IT projects/PFI schemes etc, Labour did what they always did. As in 1979, again in 2010, Labour left the country on its financial knees.
And yes, privatisation has its faults, but the alternative would be a state run railway costing the country far more for far less, in hock to the Unions, and we all know where that led us last time.
Gordon Brown sold gold cheap and spent money we didn't have through a perverse obsession with headlines. I am glad the Labour Party are not in power- that's the problem with socialism, you always run out of other peoples money.
Indeed, I hold a very similar position, but I'd add one more monumental policy error. Removing banking supervision from the Bank of England and giving it to the Financial Services Authority, which was too wrapped up in how consumers were being treated, rather than thinking about whether banks were on a sound financial path. I remember writing essays to that effect around about 2001.
Luckily that crazy plan is about to be undone.
Sorry for the massive OT!