"The former Chancellor said Gordon Brown has received undue credit for his role in attempting to shore up the global economy. "The idea that Gordon has saved the world is not true," he said. "We still have a major, major crisis in this country and... public finances are in a terrible mess".
New York Times (6th)
“The contrast with the Bank of England here is extraordinary,” said Jacques Cailloux, chief Europe economist at Royal Bank of Scotland in London. “To some extent, the British have simply adopted the Fed’s approach.”
Daily Mail
"Any tax cuts by Gordon Brown to beat the recession will be short-lived, a Cabinet minister admitted yesterday. "
Return of the dole queue- unemployment heads for 3m
DailyMail
Vicky Redwood, from Capital Economics, said today's figures were only the 'tip of the iceberg' because the labour market lags behind the economy by several months.
'We have not seen the full effect of the recent slowdown in the economy, let alone the full force of the recession,' she said.
'Much worse is to come - we expect unemployment to peak in 2010 at around 3.3 million.'
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