Will GDP rise be Osborne’s get out clause?
Alistair Darling has been on Sky News doing a lap of honour for today’s GDP growth figures. “Vindicates everything we did,” he said – his narrative being that the extra debt did indeed boost the economy and produced 1.1 percent growth in this quarter. This chimes with what I wrote in the Daily Telegraph a few weeks ago: that the economy is better, not worse, than the Tories thought. Even if, or should I say when, the ONS say the figure was wrong and needs to be revised downwards it will still mean tax revenue churning in at a far faster rate than thought. This will give Osborne a get-out
