"I want this to be the New Labour Government that ended Tory boom and bust forever."
November 1997

"We will not put hard won economic stability at risk. No return to short-termism. No return to Tory boom and bust."
September 2000

"In the first two terms we corrected the weaknesses of the Tory years: boom-and-bust economics"
March 2006

"Boom and bust is a term that applied to the Conservative years and two of the worst recessions in history"
March 2007

Simon, Harrogate, UK

I think this is not only totally irresponsible but bordering on criminal in its negligence and absurdity. On the day that the tax payers bail out the banks the same mad level of credit madness that got us into this pickle is asked for. It's unbelievable!

Mark Corbluth, Norwich, England

How about some sensible rules on mortage lending instead! The 2007 lending peak was the product of 11 years of too low rates and the Govt and MPC happily standing idle as a massive bubble developed. Exactly what happened with Greenspan's bubble in the USA. And Gordon blames the bankers of course.

GH, NY, USA

Lloyds shareholders should reject this. Surely, like Barclays, the Bank can raise the money themselves by selling perhaps, Scottish Widows?

cww, Suffolk,

'Lenders attack government plan to return mortgage lending to 2007 levels...'
Not really the point, is it? The whole thrust of strings attaching to 'the plan' is to allow Buggins to look and sound serious. Still, is he really suggesting lenders should reprise their irresponsible lending?

m collins, Leeds,

Get out of here! Youv'e got to be kidding - not even labour are that obtuse are they? Bad bankers for being over eager to lend - now go ahead but this time instead of blowing your own capital why don't you blow the bailout fund instead? Unbelievable and so way off the mark.

James Cracknell, Colchester, UK

Don't fall for this madness.

Don't buy for at least 3 years. You want to get on the housing ladder and not cripple yourself in the process?

You use your power, wait 2-3 years, wait for prices to drop and then get on. If you get on any sooner, you deserve the negative equity that will come to you.

Tom Franklin, London, UK

Is it just me, or is this just a little premature? This morning we were waiting to see whether Financial Armageddon could be averted at the last minute, and now they're talking as though everything is fine. This is just spin - Brown and Darling talking it up to restore confidence - is anyone fooled?

Dean Hallett, Basingstoke, UK

Is this really a Oh my god the good times are over and if only i owned all banks think how good the times could really be ( again ).

Oh blimey i do there we go problem solved - anyone for a 150% 50 year mortgage cheap?

He might as well be handing out £20 notes in the street.

Peter, Aldershot, uk

This is all about luring the unwary to the overpriced housing market to give an illusion of prosperity. The aim is to postpone the day of reckoning beyond the next elections. If cost of houses going up is good why is it bad for other prices to go up too?

S Yogarajah, Harrow, England

William Morris, in the record level of last year the contribution by the finance sector was 9% of GDP.

Yet that 9% is earned from hampering the efforts of the 91%, never mind the ruination of the country every generation.

Time to stop the funny money and get back our industry.

Gazza, midlands, UK

This is addressed to Alexis Croucher from Dubai - do you understand that the City was and is responsible for a significant chunk of the UK's GDP???? We would not have an economy forget lower prices...the importance of maintaining the city for the livelihoods of ordinary Britons is too great.

William Morris, chelsea ,

I hope the return to 2007 lending is a joke, when will they understand that high house prices caused this mess? How is propping house prices up at insane levels going to help ?

Simon, Chester,

poor old zanulabour, so desperate to build those shoebox eco towns, no one wants a mortgage, whilst unemployment is about to hitt the fan.

ronnie, bucks, UK

The government statement, even if slightly misinterpreted, clearly shows a total lack of understanding of the housing situation. Banks lending 5 times salaries on self certified wages, caused the housing boom to rise way above any acceptable affordability. 2007 lending levels - madness !!

George, London, UK

Dear God, mortgage lending at 2007 levels is the PROBLEM! I despair at the stupidity of Brown and Darling, it's enough to turn one to alcohol or religion.

Paul, Coventry,

Taxpayer sponsored sub-prime lending ... great solution.

Andrea, Perth, UK

Taxpayer sponsored sub-prime mortgages; that will certainly fix the economy!

Andrea, Perth, UK

So the banks will lend the same amount of money as in 2007 but they will not lend in an irresponsible fashion.
The banks can therefore only lend to customers & small businesses with good credit ratings and sound prospects i.e. safe bets only.
Not a very realistic plan during a recession!

John, London, UK

The lunatics are still very much running the asylum.

John, Lincoln,

Isn't the profligate borrowing and rapid inflation of house prices the reason for this whole story in the first place? I sharply dispute the argument by the City & service sector that without "big banking" we would be universally worse off. Without their loans & bonuses we'd have far lower prices!

Alexis Croucher, Dubai, UAE

The government had no other choice, unless they let the market freefall and the banking system collapse. And the investment in banking stock will lead to a capital gain which can be offset against any deficit which has resulted from the action taken.

Neil, London,

Now that The Treasury’s inmates have the keys to the banking industry, they want to ruin it. Calling for HBOS, Lloyds TSB and Royal Bank of Scotland (RBS) to resume lending to homeowners and small businesses "at 2007 levels" indicates gross ignorance and an irresistable urge to tinker.

Dennis Eagan, Colorado Springs, u

So the government want banks to resume lending to people who can't afford the repayments do they?Do they have any grasp of what has caused this near meltdown?

Andy, Bristol, UK

Another deficit for the tax payer. When will Labour learn?

steve tea, manchester, cheshire