
Why the green shoots won’t help Brown
I have so far treated Gordon Brown’s green shoots strategy with derision. He has convinced himself that a recovery is going to take root and make the nation realise that they do, in fact, love the Dear Leader. Whereas I first believed his green shoots were a mirage – now, I am not so sure. For the last few weeks, analysts have been revising up their forecasts – ending what seemed to be about 18 solid months of downwards revisions. Take the housing market – which had been expected to bottom out next year. If you look at it on a simple house price to salary ratio, it has a
