Yeah he's been fantastic.
http://www.telegraph.co.uk/finance/f...K-economy.html
Quote:
The UK Debt Management Office (DMO) attracted just £1.67bn in bids for its sale of £1.75bn of 2049 gilts this morning, its first uncovered auction of conventional gilts since 1995.
The cover of just 0.93 times is believed to be the lowest in history and far worse than the 0.99 times in 1995. The average cover of the last three auctions was 2.1 times.
Failure raises fears that the Government may not be able to secure the billions of pounds its needs from the markets to fund its record fiscal deficit without paying far more for the money, and reflects concerns about UK economic stability.
|
That is not down to the global recession, it's down to the appauling state that this most successful chancellor of modern times has left the UK economy in to weather this storm. He ran deficits and invested unproductively leaving nothing for the lows in the economic cycle, with the result that the UK economy is still going to be in recession when our competitors are recovering and back in GDP growth (source IMF).
http://www.guardian.co.uk/business/2...o-last-longest