We have been warned that the economy may experience a bumpy ride over the next several months. Brown the optimist is still forecasting significant growth next year, and describes his period as one with no boom and bust.
Well there is news for him. The insolvency service has published figures for bankruptcies and individual voluntary arrangements for the years 1989 to 2007.
What is clear is that before Brown the peak was in 1992/93 at about 10,000-12,000 a quarter. This figure was passed in 2003/04, and is currently running at about 40,000. I wonder why Gordon Brown forgot to mention these figures? We are sad for the people involved, but it is dishonest for the Government to claim that all in the garden is lovely when the rate of failures has been rising from about 2002 and is already much higher than when Brown took over the Treasury.
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2 comments:
Spin has been at it, like your later post,- We are getting a very one-sided picture.
If things get much worse, what happens to Brown's claim of economic competence, which he is still trumpeting?
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