Growing, Growing, Gone

That's the message we recieved yesterday from Gordon Brown on the state of the British economy.

In March, voters were told the growth forecast was 3.5%, no thast figure is revised to just 1.75%, one of the lowest growth forecasts for a country's economy in the developed world. George Osbourne, our Shadow Chacellor, stopped short of saying the Chancellor had lies to the public. Shame - I believe Gordon Brown deliberatley lied and misled the public in the run up to the general election.

The reality of the situation is that in 1997 Britain's econmy was the fourth most competitive economy in the world. We are now 15th, and in terms of growth, we are rapidly descending, almost freefalling, to the bottom of the league. The Chancellor blames inflated oil prices. Why then, are the ecomonies of China, India, the US, and even Germany and France now forecasting greater growth then the UK? Proabably because they are investing in growth and output and controlling spending.

In February 2004 I wrote a News Release highlighting the fact that private sector growth was slower than public sector growth - in other words, as a country, our rate of spending was exceeding our growth in income. You don't need any qualification in economics to know that that is unsustainable.

So Mr Prudent inherited a surging economy in 1997 and year on year it has been squandered, despite massive tax increases.

Let's hope we have an election before four years time because by then the state of our economy will be at rock bottom, as it was the last time the Tories took over from Labour.