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Britain in grip of Worst Economic Crisis in 60 yrs!

posted on Sep 03, 2008 02:12PM

Britain in grip of worst economic crisis for 60 years, admits Alistair Darling

Telegraph, UK
By Andrew Porter, Political Editor

Last Updated: 12:02am BST 30/08/2008

(excerpts)

Britain is in the grip of its worst economic crisis for 60 years, Alistair Darling has admitted.

The Chancellor of the Exchequer warns that the slump is going to be "more profound and long-lasting than people thought".

Thursday David Blanchflower, a member of the Bank of England monetary policy committee, warned unemployment would hit two million by Christmas. Mr Darling admits Labour - currently 19 points behind the Tories in the latest Telegraph opinion poll - is in trouble.

http://www.telegraph.co.uk/money/mai...

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