Vince Cable Says That Brown “Lied” About the Recession
According to www.publicservice.co.uk , the claim by Gordon Brown and Alistair Darling that the UK is in a better position to fight the financial crisis and the recession than most other countries is a “lie”, according to Vince Cable, the Liberal Democrats’ economics spokesman.
Vince Cable the Liberal Democrat Treasury Spokesman was commenting on a report by the Institute for Fiscal Studies (IFS) which said that it would be at least 20 years before the UK’s public sector debt returned to pre credit crunch levels. This report repeats the opinion of the International Monetary Fund that the recession in the United Kingdom will be worse than any in other developed nation.
The IMF report predicts that Britain’s economy will fall by 2.8% whereas Darling claims that the figures will be between 0.75% and 1.25%.
Mr Cable said:
”This report exposes Gordon Brown’s lie that Britain is well placed to deal with the recession. Huge levels of personal debt and overreliance on the financial sector has made this country vulnerable.”
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