Double-dipping

The Bank of England again revised its growth predictions down today - further evidence that withdrawing state support from the economy will damage the prospects for a recovery in the United Kingdom.

The main body of cuts may not yet have bitten, but there have already been significant reductions in public sector recruitment and capital spending.

With Vince Cable now refusing to rule out the "double-dip" recession Gordon Brown warned us about before the election, the outlook is not promising. History will be kinder to Brown than the British press has been, at least with regards to his reputation as Chancellor.

However the Tory/Lib Dem government tries to spin it, this recession is global. It is not the fault of Labour's economic policies - policies that were supported by the Conservatives for over ten years.

George Osborne has a significantly weaker economic record. History will be very unkind, and so will the electorate.