John Major 'economic green shoots' claim shot down

Sep 17, 2012

Former PM claims economy is recovering, but more bad borrowing figures are expected

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FORMER Tory prime minister Sir John Major told the Andrew Marr Show yesterday that he was detecting the "green shoots" of recovery, what with the recent fall in unemployment and a rising stock exchange. "Since I'm no longer in politics, I can say something that perhaps as a politician I wouldn't," said Major. "Norman Lamont was taken to pieces by commentators for suggesting there were green shoots, but in retrospect, we can see that Norman was right. Recovery begins from the darkest moment." But did Major talk too soon? Another bad set of public finance figures due this week are expected to show higher than anticipated borrowing. Howard Archer of IHS Global Insight told the Daily Mail: "It is likely [George Osborne] will either have to acknowledge he could well miss his plans to balance the structural deficit by 2017, or announce further fiscal tightening measures."

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