"Chancellor Alistair Darling has at last stated publicly that the Government is now committed to one of the most significant U-turns in British history.
He told an audience at Cass Business School in London on Thursday that the Brown administration is set to throw overboard its entire economic strategy."
"The British economy is facing one of its gravest crises, and Gordon Brown's economic framework has been shown up as a sham. It worked well during the good times, but imploded when put to the test."
"Brown has used three tricks to ensure his survival. First, he has turned to the oldest and cheapest gambit in the political lexicon: he has blamed Johnny Foreigner"
"The Prime Minister's second tactic is deception.
In a stroke that must have brought a gasp of admiration even from his notoriously untruthful predecessor Tony Blair, the Prime Minister now denies that he ever claimed to bring an end of 'boom and bust'.
He insists that he only meant 'Tory boom and bust'.
But it is his third response to the economic collapse that is truly remarkable.
Having abandoned his supposedly immutable economic framework (in April 2002 Gordon Brown declared that 'at all times - now and in the future - we will never compromise our commitment to meet our fiscal rules and disciplines'), he has replaced it with the exact opposite.
Instead of tight controls on borrowing, the Prime Minister and the Chancellor this week made clear that the Government will respond to the downturn with unlimited Government spending."
Brown debts are a 'ball and chain' on Britain, says IFSDaily Mail:
"Gordon Brown's boast that Britain is well placed to weather the recession was dealt a serious blow last night.
A report by the influential Institute for Fiscal Studies claimed Government finances are in a far worse state than the Prime Minister admits.
It said the budget deficit is more than four times as high as under the Tories in the early 1990s."
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