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Thanks Gordon

Thanks to Gordon, the UK is the last G20 country to leave the recession

Today it was announced that Britain has finally emerged from recession, albeit by just 0.1% Gordon Brown will no doubt claim that he is responsible for this small success. The reverse is the case. He didn't save us from the recession, he made it worse.

Just think.....

• The UK is the last G20 economy to leave the recession. All the other G20 nations, including the US, France, Germany and Japan have now resumed growth.

• The UK was one of the first countries to enter recession, and the last G20 country out. The UK entered recession in Q2 2008, one of the earliest of all G20 countries.

• Some countries emerged nine months ago. Many other countries even emerged in Q2 2009 (Reuters, 27 October 2009): France; Germany; Japan; Singapore; Hong Kong; Taiwan; New Zealand; Israel ; Brazil; Sweden

• The pound has fallen significantly against other major currencies. Since entering recession in Q2 2008, the pound has fallen 17 per cent against the dollar. At the start of April 2008, £100 was worth $197 – now it is only worth $163. Similarly, the pound has fallen 9 per cent against the Euro, and 25 per cent against the Yen.

Thanks Gordon!

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