Osborne owes Darling an apology

Britain’s national debt rose to over £1 trillion last month, and will never return below this threshold. George Osborne is increasing net debt by 61.5 per cent in real terms over this parliament, more than the 59.9 per cent which Labour proposed when it fought the last election. Here’s how the OBR’s current projections for debt contrast with what Darling proposed in his last Budget:

At the time, Osborne said Labour’s debt plan was reckless and unsustainable.