Economic downturn worst in ’60 years’

ITN
Saturday, Aug 30, 2008

Alistair Darling has warned that Britain’s economic downturn will be the worst in 60 years.

The Chancellor said it will be “more profound and long-lasting than people thought” amid the worst global economic conditions.

Mr Darling also admitted that ministers were partly to blame for voters’ frustration because they had “patently” failed to explain the problems.

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The comments are the Government’s grimmest assessment yet of the situation, and come after a Bank of England policymaker warned that unemployment could hit two million by Christmas.

Mr Darling said: “This coming 12 months will be the most difficult 12 months the Labour Party has had in a generation, quite frankly.

“We’ve got to rediscover that zeal which won three elections, and that is a huge problem for us at the moment. We really have to make our minds up; are we ready to try and persuade this country to support us for another term? Because the next 12 months are critical. It’s still there to play for.”

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