We have inherited from the Labour Party the Worst Deficit and Debt Crisis in this country's peacetime history; a structural deficit that would have been a crisis alone; an annual deficit from Labour's historical explosion in public spending; a crisis in the situation with debt as a percentage of gross domestic product; and interest payments that are set to rise, if we have not tackled them, by £76 billion a year - £1 in every £4 the Government spend.