11 February 2009

Meanwhile in the real world

While Brown plays his short term tactical games, the news in the real economy gets worse.  Not only did unemployment touch 2million today, but the Bank of England issued it's quarterly inflation report.


It says the the economy will shrink by 4% from mid-2008 to mid-2009 with a decline by 3% in 2009.  The Bank's forecast for 2009 is noticeably more gloomy than many others, and is a particularly sharp revision of its own forecast just three months ago.

David Kern, chief economist at the British Chambers of Commerce said:

that the Bank's forecast for a recovery by 2010 "seems unduly optimistic.

Graham Leach, of the Institute of Directors said:

that "we are well into the financial crisis but the economic crisis is only just beginning.

It makes you sick that Brown will knife even one of his advisors to divert attention from what is going on in the real world, and focus on the blame game with the banks and their bonuses.

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