Redwood spot on -its the economy

Much as I don't agree with a lot that he says,I think that John Redwood has got it spot on when he says

The problem is not Gordon Brown today. The problem is the mess Blair/Brown made of the economy in the period 2001-2006. The problem is the inflation they have unleashed, and the sharp slowdown they have now generated. That is why I do not think Labour have begun to learn the lessons, because they still cling to the view that the problem is of foreign origin, and that the UK is well placed to deal with it.

The question of course is what he can do?