There is a tactic in public relations called "telling people what they want to hear." This came through strongly in the minutes.
But before you jump on me, this is not as naive as it sounds. There is a deeper psychological angle.
People often do not want to hear good news if they don't think it's realistic. They want to hear it "straight".
Telling people the bad news up front can therefore win you instant credibility. If PR had come up with positive spin when everyone knows we are in the s**t, he would have been jeered "off stage".
It's also pretty much win-win. Things are absolutely awful, we have no money and it's a long uphill battle. Thereafter the struggles are accepted and the slightest success feels like a miracle. The current government continues to take this line, and they too have the previous administration to blame.
I'm not saying I don't believe Ridsdale, most of it sounds right. Just pointing out that this is a well-proven credibility-winning tactic that has been used down the ages. We will judge him on results, and results only.