Wednesday 24 March 2010

Darling - 2, Forces of Hell - 1

The economic times we are facing "are arguably the worst they've been in 60 years"
- Alistair Darling (Chancellor) 29 August 2008


Did Darling mean to be quite so revealing in his interview? ... The word is that Gordon Brown isn't best pleased with his Chancellor ... Allies of the prime minister have reportedly reacted with feeling when they insist that Darling should be sacked and his job given to Ed Balls
- exclusive all newspapers 1 September 2008


"This Budget takes place as the UK economy is recovering from the deepest global recession for over 60 years"
- Alistair Darling (still Chancellor) 24 March 2010


ND

12 comments:

Budgie said...

There isn't any recovery. Liebore has bought a deferral of the rest of the recession by printing £200 billion. It used this to buy its own Gilts thereby financing this year's deficit.

By the time the deficit is halved in 4 years Brown will have added another £500 billion to the UK's existing debt of £900 billion (plus - depending on what's included). In other words the UK's admitted debt will end up being one whole year's GDP.

John Thomas said...

Could Alli, Darling having his Jeffery Howe moment, after all he was handed the poisoned calice by Broon of McDoom, a case of the pit or the pendulum, not many would have taken it on.

Budgie said...

In his last budget as chancellor, Brown said "we will never return to the old boom and bust".

So when Darling claims Liebore were "right on the recession", he actually means Liebore was wrong on the recession.

Brown, 2007 budget: "... in Britain we expect debt from 2007-08 to 2012 to be 38.2, 38.5, 38.8, 38.8 and 38.6 per cent - at all times meeting our second fiscal rule." "And we will never return to the old boom and bust."

Nick Drew said...

good recall, budgie

a Howe moment would be nice, JT but it seems we ain't gonna get one from him

wait for his memoirs, I suppose - not much use to us now

James Higham said...

Buy cider now.

Anonymous said...

Well technically Brown said an end to Tory boom and bust so he is still as honest as the day is long...

Danny

Bill Quango MP said...

The cider tax seems to be the headline today. That and personal allowance.
Hasn't gone down at all well. And a bit of an own goal.
Low income, non middle class, cider drinkers finding hit by tax rises.
Bit of a wake up.

Anonymous said...

Actually, Danny, didn't Gordo claim the end to boom and bust, full stop, but then later say he 'meant' "Tory" boom & bust...

Steven_L said...

Gordon has achieved no more boom and bust.

Now we just have a Japan-style twenty-plus years of stagnation and decline.

Anonymous said...

Anon at 12:32, you are right... It wasn't all "Tory boom and bust".

http://www.channel4.com/news/articles/politics/domestic_politics/factcheck+no+more+boom+and+bust/2564157

Of course, we are now wishing we had Tory boom and bust and not GB boom and bust

Danny

Nick Drew said...

excellent stuff, we like a strong sense of historical accuracy around here !

Budgie said...

Danny ...

Brown's statement "And we will never return to the old boom and bust." is one sentence exactly as you see it. I copied it directly from Brown's budget speech of 2007 on the Treasury website with no alterations by me.