Ten years is a very long time in politics and an incredibly long time to hold the position of Chancellor of the Exchequer. As Gordon Brown spends the next six weeks touring the country talking about the economic miracle he has wrought and how he wants to change the style of government to one that is more open and listening, I thought a look back over the last ten years of this Chancellor would be instructive.
Lets take a look at some key indicators:
Gross Domestic Product - 2005 showed the slowest growth since 1993 - article
Inflation - Ended 2006 at its highest levels for a decade - article
Inflation - In January hit the highest levels for 11 years - article
Inflation - Meanwhile the real rate of inflation is much higher than that reported - article and article
Wage inflation - In May 2007 pay rises move above 4% as fears over inflation rise - article
Unemployment - In September 2000 hit a low not seen since the 1970's - article
Unemployment - From then on unemployment has risen to 5.5% this year - article
Bankruptcies - Ever rising, helped by new IVA legislation - article
Trade deficit - Reaches a new low of £4.7bn this year - article
If you thought this one made GB look like less than a total success, wait for part 2...that deals with his record on Taxation!
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