Who’d have thought it!
This country’s GDP grew by 0.2 per cent in the second quarter of this year.
That was considerably less than the 0.7 per cent projected growth forecast.
A variety of factors were blamed for this contraction – the Royal wedding, wasn’t that supposed to bring in money, the weather, there may be a point here the weather has been very testing to everyone, etc. News reports have carried different points of view from the inexperienced Chancellor of the Exequer to the equally inexperienced leader of the opposition.
This country is still generating a trillion pounds a year, something that hasn’t changed.
That means George Osbourne has not done anything wrong there, where the danger lies is in his plan to cut the deficit within the lifetime of this government – that will cause real long term damage.