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Labour and the Tories are at it again. Oh wait, that was pretty much a wasted sentence, wasn't it?
There's been a "surprise" fall in GDP of 0.5%. Ed Balls, the Shadow Chancellor, predictably blames the Conservatives' economic recovery plan, whereas Chancellor George Osbourne has gone with blaming it on the bad weather over the winter.
Um, what? The weather?
Maybe I just really don't understand economics (to an even greater extent than we already knew, that is), but how can snow and ice possibly affect GDP growth? On a slightly more convincing note, Vince Cable has said that the benefits of the government's recovery plan will become visible in the long term, and that we "shouldn't read too much into" the current statistics.
Ed Balls has said that this is one of the first signs of the effect the Tory leadership is having on the economy. He has urged the government to make a "U-turn" in the actions they are taking, continuing with Labour's constant criticism that the cuts are too fast, and will do more harm than good. The Tories have intelligently responded by saying "you worked for Brown when the recession happened, so nothing you say can be good ever ever ever!"
Personally, I think the Tories know that the recovery isn't working the way they wanted it to, and are getting kinda desperate on the excuse front. I mean, the weather? Seriously?
Further reading: http://www.bbc.co.uk/news/business-12275815
On a related note, the Lib Dems have been ranked lower in approval ratings than "other" by a majority of the polling companies featured on the BBC website's poll tracker. I find this both amusing and satisfying. It's almost poetic justice that the lies they told the public got them the highest approval in forever, and now the lies have been revealed, they've got the lowest approval ratings since anyone can remember.
So, that's the politics news of the moment. Sort of.
Happy living!
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