Liam Byrne has admitted to ITV News West Country that his note to his successor David Laws that said "I'm afraid there is no money" was "foolish":
Of course it was a very foolish thing to do.
I left something else at the Treasury, which was a Budget I'd drawn up with Alistair Darling that would have halved our deficit over four years.
That was a good plan, it was a plan that would have worked and I'm afraid it was a much better plan that we've ended up with now.
More top news
Documents released by the National Archive reveal how a suburban bank clerk became MI5's top agent among Nazi circles in wartime Britain.
An axe-wielding man who attacked four New York City police officers has been shot dead.
Suddenly demanding £1.7 billion with a month to cough up is as good an opportunity to say 'Non, non, non!' as the PM could have wished for.