ANALYSIS
0 Comments | Daily Mirror, The; London (UK), Jul 24, 2010 | by Graham Hiscott
GEORGE Osborne’s life has been privileged in more ways than one.
Not only born with a silver spoon in his mouth, he’s now been handed economic recovery on a plate.
Labour took the flak for the downturn and were sacked by the electorate yet yesterday’s GDP figures add weight to claims that previous policies were beginning to work wonders.
In the past fortnight we have had confirmation of another fall in unemployment and a surprise jump in shop sales.
Underpinning the recovery is something that’s hard to measure, yet critical: confidence. Confidence is behind 10,000 more job vacancies, confidence is behind families spending (at the right price). In short, confidence helped the economy to bounce back.
Fuelling that confidence is record low interest rates – set to remain low for now – and Labour’s injection of public funds in the depths of the downturn.
Take construction, which soared by 6.6% between April and June. A large chunk of the pounds 49billion of public sector investment in the past year went on building schools, roads, housing and hospitals
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