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Discussion and analysis of the latest economic issues.

By Sean O'Grady, Economics Editor of The Independent.

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IMF projections are good for Brown

Posted by Sean O'Grady
  • Wednesday, 8 July 2009 at 04:44 pm
Good news for Gordon Brown. The IMF says that the recession will be over this year and the UK will return to growth in 2010. Not much growth - just 0.2 per cent. But still, and the politics of this are fascinating. By the time of the election, say next Spring, Mr Brown will have a solid narrative to tell the nation; “I saved the banks, stabilised the economy, held my nerve, and - look - we now have growth again. Vote Labour!”

There are plenty of things to say to that, not least the vast overhang of debt that we’re building up paying for our coming boomlet, and the recovery may be short lived and fragile. The Tories and Lib Dems can say that this is a recovery bought with your own money. But there’s nothing a politician needs more than a story; and Mr Brown’s is starting to shape up.

Comments

dnmurphy wrote:
Wednesday, 8 July 2009 at 05:44 pm (UTC)
It was the same for John Major, didn't do him much good. People are unlikely to believe it as unemployment and house repossessions will also be rising.

But if the scumbag does get re-elected then it will show how unspeakably dumb the British people are.
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