Submit your comments on this article |
Britain |
British Economy at 60-year low, and it will get worse |
2008-08-31 |
Britain is facing "arguably the worst" economic downturn in 60 years which will be "more profound and long-lasting" than people had expected, Alistair Darling, the chancellor, tells the Guardian today. In the government's gravest assessment of the economy, which follows a warning from a Bank of England policymaker that 2 million people could be out of work by Christmas, Darling admits he had no idea how serious the credit crunch would become. His blunt remarks lay bare the unease in the highest ranks of the cabinet that the downturn is making it all but impossible for Gordon Brown to recover momentum after a series of setbacks. His language is much starker than the tone adopted by the prime minister, who aims to revive his premiership this autumn by explaining how he will help struggling families through the downturn. The chancellor, who says that Labour faces its toughest challenge in a generation, admits that Brown and the cabinet are partly to blame for Labour's woes because they have "patently" failed to explain the party's central mission to the country, leaving voters "pissed off". |
Posted by:GolfBravoUSMC |
#9 I forget who said it (I think an Athenian), but maybe a 'Burger will have the answer. "Democracy lasts until the people realize they can vote themselves gifts from the treasury." |
Posted by: DarthVader 2008-08-31 20:53 |
#8 Socialism - too much take, not enough give. Brings the mightiest to their knees eventually. People take too much from the government and the government doesn't give enough incentives for them to prosper on their own. Predictible. |
Posted by: Richard of Oregon 2008-08-31 11:17 |
#7 The Guardian should fire everyone and start fresh They're reporting what the Chancellor (Britain's Finance Minister) is saying |
Posted by: john frum 2008-08-31 10:21 |
#6 It almost like the writer has no idea how bad the British economy was 30 years ago. Hell, American MSM has no idea what the American economy was 8 years ago [before the massive layoff in their part of the entertainment industry]. |
Posted by: Procopius2k 2008-08-31 08:42 |
#5 If things are that bad, it must be time to bring Maggie out of retirement. She's still younger than Liz. |
Posted by: Nimble Spemble 2008-08-31 07:13 |
#4 It almost like the writer has no idea how bad the British economy was 30 years ago. Probably applies to Darling, too. Perhaps the Tories could now start muttering something about reducing the tax burden. It's way past time. |
Posted by: Bulldog 2008-08-31 05:33 |
#3 The Guardian should fire everyone and start fresh. The economy will be nowhere near as bad as they make it out to be. Certainly not the worst in the last 60 years. 16, maybe. 60, hell no. It almost like the writer has no idea how bad the British economy was 30 years ago. |
Posted by: Mike N. 2008-08-31 03:29 |
#2 And the end product of the Nanny state. (sorry hit enter too soon) |
Posted by: OldSpook 2008-08-31 01:11 |
#1 Socialism at work. |
Posted by: OldSpook 2008-08-31 01:11 |