The state of the economy

The last of the three TV election debates was supposed to be about the economy. For me it was ninety tedious minutes of blather and posturing from all three men. So, as a public service to my kind readers, this is all you need to know about the economy:

The UK economy grew at an average of just 1.7% per annum over the last decade -- not only is that lower than during either of the two previous decades under the Tories, it's actually the worst growth since the 1940s.

Unemployment is now 8%, that's the highest it's been since 1996. It's going to go up.

Exactly ten years ago the FTSE stood at 6373, today it's 5618. The UK stock market has suffered its weakest performance of any decade since the Great Depression, according to Morgan Stanley.

Our national debt as a percentage of GDP has more than doubled since Labour came to power.

With decreased GDP per capita and deteriorating exchange rates, the UK standard of living is currently below 2005 levels -- and getting worse.

Things are just about to get really really bad -- for years to come, no matter who ends up in Downing Street next week. Soon you'll no longer have to take my word for that. But why would anyone think the people who've landed us in this disastrous economic mess are in any way qualified to get us out of it?

By the way, if anyone can explain that one to me, I'd be most grateful -- seriously.

Smear, scandal and now election defeat: Labour is a spent force

They’ve even been beaten in Wales. They’ve been kicked into third, fourth or fifth place up and down the country. The party is hopelessly split between those who really want Brown to go but haven’t the bottle to get rid of him, and those who would take their chances – heads buried deep in the sand.

Last night, at an emotionally charged meeting of the PLP, Brown pleaded for loyalty and support. It was high drama, a Hollywood moment, a time for cheers and rousing applause. In the end, he got what he wanted – a kind of support, and a kind of closure. It seems Labour finally nailed their colours to the mast, for which now they will pay a very heavy price.

Labour's Hollywood moment

Only the most delusional Labourite would dispute that heavy defeat at the next general election is looming large. All that is left is to name the date. Bring it on Gordon.