Thursday, September 08, 2011

The Tories have killed the economy?

Staggering data from a report in the Daily Mail today (never one to forego a scaremongering story). They have mapped the current economic mess onto previous crashes to show how long it took to recover each time.

As you can see this current crash is on course to be the longest in history...what is pretty obvious from the graph is that we were on target to come out of the mess and recovering strongly until the current stagnation happened under the Tories. For everyone who still clings to the notion that Labour messed up and the Tories are merely taking restorative measures this has to be a wake-up call surely. This is not due to a royal wedding or a few days of snow...this a stagnant economy and it's exactly what Alistair Darling was trying to avoid with stimulus and tax cuts, it's exactly what Ed Balls has been talking about for month.

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