Alistair Darling: UK Facing Worst Economic Crisis in 60 Years
August 30th, 2008Via: BBC:
The UK is facing its worst economic crisis in 60 years, Chancellor Alistair Darling has admitted.
He told the Guardian newspaper that the economic downturn would be more “profound and long-lasting” than most people had feared.
Using strong language, Mr Darling acknowledged voters were angry with Labour’s handling of the economy.
Shadow Chancellor George Osborne said Mr Darling had “let the cat out of the bag” about the state of the economy.
The Chancellor admitted the government had “patently” failed to get its message across that it understood people’s concerns about rising living costs and growing job insecurity.
…
“This coming 12 months will be the most difficult 12 months the Labour party has had in a generation, quite frankly.”
Ministers are expected to announce a package of measures next week to kick-start the moribund housing market.
