Why Prime Minister Gordon Brown Wants A Double Dip Recession To Happen

Gordon Brown

Prime Minister Gordon Brown stands accused this morning of using the UK’s difficult economic position as a tool to maintain his grip on the country’s premiership in the run-up to the projected May 6 election.

From Bloomberg:

“A weak economy might perversely be good for Labour,” Jonathan Loynes, an economist at Capital Economics Ltd. in London, said in a telephone interview. “To a degree it would support the government’s position that it shouldn’t try to tackle the budget deficit too quickly, and at the same time undermines the Conservatives’ position.”

As of Tuesday, the Conservatives lead over Labour had slipped to four points according to a YouGov poll, but others are tracking a higher Conservative lead.

The election is now projected to occur May 6th, 6 weeks after in-power Labour plans to offer up their austerity budget, on March 24.

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