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December 2, 2008 7:32:35 PM CST

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Darling: British Economy Is at 60-Year Low

Posted Aug 30, 08 10:29 AM CDT in World,  Business 

(Newser) – The outlook for Britain's economy is the bleakest since the days when the country was rebuilding from the Blitz, Chancellor Alistair Darling tells the Guardian. Darling warns that the downturn for the UK and the wider world could be "more profound and longer-lasting" than people expect. He acknowledges that voters are "pissed off" with the Labour party, and him personally.

"I was at a filling station recently and a chap said: 'I know it's to do with oil prices—but what are you going to do about it?' People think, well surely you can do something, you are responsible, so, of course, it reflects on me," Darling said. His assessment is darker than that of beleaguered PM Gordon Brown, who is attempting to win back confidence by explaining how he will help struggling families through the downturn.

Source Guardian (UK)

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Britain's Chancellor of Exchequer Alistair Darling talks to the schoolchildren during the launch of a new National Enterprise Academy at Swanlea School in London, Tuesday, March 11, 2008.   (AP Photo)
British Prime Minister Gordon Brown speaks during his monthly press conference at 10 Downing Street, London Monday July 14, 2008.   (AP Photo)
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We've got our work cut out. This coming 12 months will be the most difficult 12 months the Labour party has had in a generation. - Alistair Darling, British chancellor

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credit crisis • economy • recession • Gordon Brown • Labour Party • world economy • Alistair Darling • downturn


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