and Gideon suggests this as an exoneration of his economic policy!



Surely the worst chancellor of the worst government the UK has endured in its entire history. Every day is a black Wednesday with this clown at the helm

T'was Labours fault.

A slow start to what will become a huge issue over time. It won't be too long before interest rates start to rise and inflation. If interest rates rise significantly in the next couple of years it'll be chaos.

Well they were in power when the credit bubble inflated and despite being a government full of pricks didn't manage to burst the bubble before it got too big.

Put the wine down.

Hope that wasn't aimed at me? A coffee and a raspberry and cranberry juice are all I have had sunshine.

if only we'd have Gideon at the helm prior to 2010 the US led banking collapse wouldn't have occurred.



I can vividly remember Gideon calling for restraint and regulation in banking and decrying the Irish celtic tiger as being built on sand.





oh hang on

Always wondered why a company that is interested in making profits (e.g. Moody's, Standard & Poor) is allowed to be in a position to make this sort of decision/announcement? And why their view makes such a difference?

The UK's rating should be way less. It has only held up because we have had a history of getting out of messes, the government talked a good story when they came in, the government and Bank were given the benefit of the doubt and as everywhere else looked dodgy sentiment said the UK was a relative safe haven (purely for historic reasons). As reality gradually outs - that despite efforts things are getting worse at an alarming rate the markets have to face facts. When they do they will be brutal to the UK and we'll all be in the brown stuff. If you are under 35 emigrate now.

money will pour out of London to New York. Barack obamas US has adopted a strategy focused primarily on growth and a measured approach to deficit reduction which is now paying dividends. Osbourne was alone in the world in adopting a strategy based on slashing spending and depressing demand and consumer consumer confidence and his clueless policies are going to take decades to recover from. The only upside is that this shower have taken 2 years to toxify the tories whereas thatcher took 9. A whole new generation will both hate and distrust the tories forever.

I think you underestimate how many voters blame Labour. I think the Tories will get a modest majority at the next general Election. Ed M is unelectable. The electorate distrust and distrust Ed Balls. Labour represents no-one and nothing. I am afraid they are a joke and for that reason alone the Tories will win by default.