Delusionist

...If the British government had to pay out on all emergency guarantees and insurance facilities offered to banks, the total liability would be $2.1 trillion, or 88 percent of gross domestic product, the Bank of England said. That compares with 73 percent in the U.S. [not an appropriate comparison economy with the United Kingdom, ed.] and 18 percent in the euro area. (Bloomberg)

“This is the basis for strong growth in the future. On the basis of jobs and growth, you reduce debt and deficit over a period to meet our five-year plan for halving the fiscal deficit”. Brown in this morning's Times