http://www.ukpublicspending.co.uk/sp...c1li011lcn_G0t
The above link shows the National Debt growth against GDP. You can play around with it, the data goes back a long way.
If you also go and look at the IMF reports which are also available online for the years that Gordon Brown was chancellor they did very specificly warn him of the housing boom for several years running in the early part of this century.
What Gordon did in government was to creat the FSA and make the Bank of England Independent of the Government. Both of which had regulative authority over the financial industry. The FSA was declared unfit for purpose by the coalition and replaced with the FCA.At a point when the UK government was running surplus and near finishing paying off its war debts to the USA. (We are the only country that ever paid back the Marshall Plan investments to the USA by the way everyone else had it written off) So there was a great chance to not only run a surplus for an extended period but actually bost the cash reserve of the government at this point. It is here that the Labour government then started increasing the bureaucratic size of government and run a deficit in the years leading up to the crisis. Still this was not yet irreversable or unmanagable. However the purcase at full market value of several banks was unforgivable because the government now has to make real term cuts to get into a surpluss just to pay the interest on the national debt and it has to be a huge surpluss to pay it down. The shares were worth nothing. There should have been legislation stripping the banks from the shareholders due to reckless endangerment of the economy. This would have lowered the major hit in debt that the government would have taken. It also would have backed the banks ability to actually operate, whilst allowing the government to safely readjust to a surplus and keep real people employed in government jobs rather than pay fortunes to shareholders who disapeared into the ether.