Monday, December 15, 2008

Darling: British Recession Will be Worse Than Elsewhere

"Of course we are more likely to be more severely affected as a result
[of the UK's dependence on the City and housing market]".

Alistair Darling, 15 December 2008, House of Commons

So there it is. Alistair Darling has finally admitted what the rest of us have known all along. And Tessa Jowell says it will be the "worst recession we have ever known".

So let's lay bets on whether Gordon Brown will ever be able to keep a straight face again when he tells us we are "better placed than other countries" to withstand the recession. Darling has let the cat out of the bag.

Hattip: Paul Waugh

18 comments:

Lord Elvis of Paisley said...

And they're going to go in February? When everyone is guaranteed a long, hard January because they've all been paid early for Christmas? And all the credit card bills are coming through the door? And people are feeling the doom and gloom after Christmas and trying to sort their finances out?

Thunderbirds are go Iain! Let's have that election. If Labour gets back in again, then this country deserves everything that's coming to it.

Prodicus said...

The management of the National Grid has cancelled all leave on Wednesday. They expect a huge surge in demand as approximately 100 per cent of the population turns on Parliament TV for the first time in broadcasting history, to see the Leader of HM Opposition shove this down Gordon ('I'm Not Delusional') Brown's throat at PMQs.

Government business in Germany will be suspended from noon Wednesday for aproximately one hour for the same reason. Emergency medical teams will be on standby in view of the grave risk that the Finance Minister and his officials may die laughing as they watch the Saviour of the World trying to writhe out of this one.

The Governor of the Bank of England was unavailable for comment but was said to be drunk on his office floor after breaking out the single malt in celebration of the dawn of realilty in his boss's and his boss's boss's mind.

justoneglass said...

February?

Nah, let's wait till the summer, when the Sun-reading classes will find out just how much that 2-week holiday in Europe will cost them.

Iain Dale said...

Sadly they will be disappointed. Brown is off on his travels yet again. Harman will be doing it.

Mr Mr said...

Give Darling some credit Iain, it was afterall him that said this was the worst financial crisis for at least 60 years much to the anger of Gordon brown and number 10. A truthful politician is a rare thing and should be cherished, not derided.

I have a sneaking feeling that if Gordon, Mandy and Balls were not pseudo chancellors and trying to cover the cr*p of their own making, then Darling would actually have a chance of saving our economy. He looks like a honest dude controlled by crooks in my opinion.

Iain Dale said...

Mr Mr, the point was to draw attention to the fact that Brown will be ridiculed when he says we are best placed to withstand the recession. Darling is right. And he was right in his previous remark, as I have since admitted!

Lord Elvis of Paisley said...

Mr Mr. Sorry, but if he isn't part of the solution, then he's part of the problem. And by giving us the fudge that was the pre-Budget report, Darling is as culpable as the rest of them. If he had any honour, he would've refused to have stood in front of Parliament and indeed the whole country and read out out the series of lies and obfuscations contained in that report. Darling is as guilty as the rest of them.

Oliver Drew said...

I like Alastair Darling - he seems like a sensible fella. Such a shame that the rest of them aren't up to much. Don't agree with Darling re: policy however.

Harman will get torn to pieces by Hague (assuming he does it again) if he decides to go for the jugular.

molesworth 1 said...

Seems to me like they're getting this piece of 'news' out of the way now to re-take control of the narrative after Christmas. F*** knows how they're going to put a positive spin on it, but 'head-in-the-sand' denial is even worse. If we see the Mandy/Campbell 'axis-of mendacity' start to ramp it up a gear in January then I think a 'Snap' election is a definite possibility.

Mr Mr said...
This comment has been removed by the author.
iain said...

of the UK's dependence on the City and housing market
---------------------------------

He could usefully have added '...a 16 year debt-financed consumer splurge that always had to stop sometime'.

This government has suddenly discovered the joys of contracyclical management - shame they didn't discover it in the up part of the cycle. Mind you, there's no votes in that.

Has ever a government more deserved to be booted out?

Shaun said...

a iain said...

of the UK's dependence on the City and housing market
---------------------------------

He could usefully have added '...a 16 year debt-financed consumer splurge that always had to stop sometime'.


You do realise that, to astute observers, the former rather translates as the latter?

tankus said...

I too , agree with Mr Mr and oliver ... I also think that Darlings one of the few honorable front bencher's , If not the only one .. I wonder if he will resign before the next elections ?

Gordon is twisting him ...

PS ...... Ming for speaker !

Drowning man in a socialist paradise. said...

The Great Chieftain, heir to William Wallace, the new Lord of the Isles will stop at nothing in his never-ending quest to improve the lives of ordinary working families.

Kindly do not suggest again that the Great One is so easily distracted by these SHALLOW KNAT BITES.

Drowning man in a socialist paradise. said...

...or gnat bites, even ...THE DIFFERENCE IS AS NAUGHT!!!! ONWARDS TO VICTORY!!!

T England said...

"worst recession we have ever known".

Do you think she means we will see a 1930's style depression?

Jimmy said...

Why has the word "ever" been inserted into the Jowell quote?

tapestry said...

Election February.

The Euro by May.

Interest rate rises all round.

Housing market dead for a generation.