So it is confirmed. We have negative growth of 0.5%, a much bigger figure than economic pundits had been predicting. To those who live in the real economy it will have not come as much of a surprise.
The government's response to the economic problems seem, typically for Labour, to throw money at them. More spending, more borrowing, with barely a thought for the long term picking up of bills. If only getting the economy out of a recession was that simple. One of my earliest political memories was my Grandmother telling me in my early teens: "Never trust Labour. They always spend more than they can afford." The next day Denis Healey went cap in hand to the IMF.
If we're not careful, history is about to repeat itself.