LABOUR frontbencher Liam Byrne finally admitted yesterday that his infamous “there is no money” letter hampered the party’s election campaign.

The former Treasury minister said he had been “burnt with the shame of it” every day since 2010 when he left the note for his Liberal Democrat successor David Laws.

The comment has been repeatedly seized upon by the Tories as proof of Labour’s economic incompetence.

Writing in the Observer, Mr Byrne said: “People’s anger — and my party’s anger — at me will never ever match my anger with myself or my remorse at such a crass mistake. I made it easy for our opponents to bash our economic record by bashing me.”