Darling Lets the Cat Out of the Bag

Tessa Jowell went wildly off message yesterday and said that Britain is facing a recession “deeper than any that we have known”. Another significant admission from Chancellor Darling suggests we are perhaps not best placed to weather the global financial turbulence: “We are going to be affected more substantially in relation to the loss of revenues that we are now experiencing because of the lack of profitability in the financial services sector. London is the major financial services sector in the world… Of course we are more likely to be more severely affected as a result [of] profitability being reduced… We are also affected by the downturn in the housing market because of reduced revenues in relation to stamp duty”.

He might also have added that because we are so over-indebted, it will be that much more difficult to recover economic growth.Via Paul Waugh




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Jeremy Corbyn:

“I’m not a defender or supporter of ISIS.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

Esther McVey for Tatton Esther McVey for Tatton
Zac Back? Zac Back?
UKIP’s Islamo-Banifesto UKIP’s Islamo-Banifesto
Karen Danczuk Seeks Selection in Bury Karen Danczuk Seeks Selection in Bury
Corbyn and Sturgeon At Same Event Corbyn and Sturgeon At Same Event
Updates: Who’s Standing? Who’s Standing Down? Updates: Who’s Standing? Who’s Standing Down?
Tories Mistakenly Share Private Conference Call PIN with Opposition Tories Mistakenly Share Private Conference Call PIN with Opposition
Len and Seamus’s Champaign Celebration Len and Seamus’s Champaign Celebration
Campaign Report: 48 Days To Go Campaign Report: 48 Days To Go
Campaign Report: 49 Days to Go Campaign Report: 49 Days to Go
Listen: Dawn Butler Car Crash Interview Listen: Dawn Butler Car Crash Interview
Manifesto Lookahead: Six Tory Policies in Peril Manifesto Lookahead: Six Tory Policies in Peril
McVey for Upminster? McVey for Upminster?
Watch: Corbyn Crowd Boos and Shouts Down ITV Question Watch: Corbyn Crowd Boos and Shouts Down ITV Question
Coalition of the Others Still Behind Tories Coalition of the Others Still Behind Tories
NEC Swerves Corbyn Loyalty Pledge NEC Swerves Corbyn Loyalty Pledge
Watch: Barry Gardiner Loses It on Sky News Watch: Barry Gardiner Loses It on Sky News
CCHQ Caught on Hop: Not Enough Tory Candidates CCHQ Caught on Hop: Not Enough Tory Candidates
Campaign Report – 50 Days to Go Campaign Report – 50 Days to Go
PMQs Sketch PMQs Sketch