For the last 6 quarters we have been in recession, the longest since records begun. Public borrowing stands at £178 billion ….scary! Last year our economy contracted by 4.8% the biggest fall in a year for 88 years.

Yesterday at an unprecidented announcement to the press (can’t help thinking the government thought it would be better news) we were told we were officially out of recession as in the final Q of 2009 the economy grew at 0.1%…fragile to say the least. This figure also had the benefit of the upturn in car sales and a VAT reduction.

It’s about time the government started to be honest with us, if they know the truth that is! All along they have been wrong, and it really does lie at Gb door, he was after all the chancellor in all the years he overspent whilst the economy was growing. Even now they tell us a different story to that of the leading economists.

Simon Hayes, the chief UK economist at Barclays Capital, was quoted in The Times today as saying the figures would reignite concerns over whether the budget deficit could be reduced as quickly as Mr darling hoped. He said ” Bringing the public debt situation under control is likely to be more painful than implied by the Treasury’s Pre-Budget Report forecasts, which assume that the economy’s trend rate of growth will remain at 2.75%. That seems very optimistic to us.”

Lets have the truth, give us some credit and stop playing politics with us all!