One of the overlooked elements of the PBR was the Chancellor’s assertion that Britain would be out of recession by the third quarter of 2009. This offered a metric against which the PBR and the other measures Labour have taken can be judged; if the country is still in recession then it will be reasonable to say that they have failed.
This is one of the reasons why some Tories expect Brown to go in 2009. Andrew Grice sums up the early election speculation in the Independent today:
“Privately, Tories fret about a mid-recession 2009 election, with the Prime Minister seeking a “doctor’s mandate” to complete the patient’s recovery. Their fears have been enhanced by a slimline Queen’s Speech this week, which gave the impression of a party preparing for an election. Not true, Cabinet ministers insist: the aim was to avoid backbench rebellions and Mr Brown is not thinking about an election.
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