The BBC headline this morning declared that the GDP figures to be released today would show a sharp slowdown. Unfortunately for them they had to change the headline following the release of the figures to say that the UK recovery was faster than expected. The UK economy had been expected to grow in the third quarter by only 0.4% whereas in fact it grew by 0.8%. This is good news as it is now expected that the Bank of England will postpone unleashing more quantitative easing for the time being.
Although Labour has not, as far as I am aware, yet commented on the announcement last night by the London Fire Brigade Union of its planned strike for bonfire night there are plenty of others who have done so. Virtually none of the comments have been supportive of the Union which seems to be striking for the most trivial of reasons and just to try and show that it has a bigger one than the Fire Brigade. Pathetic.
Yesterday we had the new Labour MP Tristram Hunt saying that Cameron is taking us back to the ethos of the Eton workhouse and today Guardian journalist Polly Toynbee saying the Tories have a final solution for the poor. Such insults are pathetic but they, coupled with the BBC's scare story on growth and the firefighters' proposed strike, will be giving Miliband a bad day. The comments today on his speech to the CBI yesterday will also have been unwelcome as will Paul Martin's comment on Jeff Randall Live last night that whilst the economy was doing well Brown should have been saving for a rainy day rather than overspending as he did. Paul Martin was the Canadian Finance Minister who rescued the Canadian economy after it went down 12 years ago. The rescue involved tough and immediate cuts. As a result of the action he took Canada paid off its deficit and subsequently generated surpluses.
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