Conhome have a piece trailing the possibility of an incoming Tory administration effectively holding an audit of the last 10 years in a bid to get everything out on the table.
There are the usual mixed bag of comments - from the sensible to the stupid by way of missing the point.
My view is that such an audit is essential:
1) The Tories would be a turn-around administration, and in the same way that a corporate rescue team's first action is to take stock and understand the problem so too should Cameron and team. Those Conhomers urging immediate action miss the point that before we can take action we need to understand the boundaries of movement, and the practical priorities
2) It would be sensible to reset expectations - we want a long term, and people have short memories. A sensible and fair audit which for example brought PFI spending on balance sheet would do much to underline the challenge that the new Goverment faced
3) It would be politically powerful - showing the extent of the damage that Labour had wrecked on the economy, and provide the counter-point to left-ist for the first period of Government. For this reason, I would suggest that where possible an independent auditor (ONS?) was used, and it should report to parliament (doing that body no end of good in status terms)
Finally, any audit would prove that... we cannot afford the New Labour Nation State and have to go back to the future!