Gordon's (call me Joe) Five Year Stability and Restructuring Plan

Tomorrow at 7am Gordon or his sidekick Alistair will announce his 5 Year Stability and Restructuring Plan. This plan had better be good. But it is a huge gamble and is a result of the ten years of Gordon and Labour's stewardship of our economy.

As Damien Reece says in his article

Of course, gambling on banks could produce spectacular returns but at least Darling and Brown seem, finally, to have realised that they can no longer sit on their hands and wait for the financial crisis to abate. But they may have severely underestimated how much a US-style bail-out will cost.

The IMF provided a rather shocking figure to answer that question yesterday: £115bn – equivalent to the entire health budget or a one-off payment of around £2,000 for every man woman and child in the country.

If ever there were a finer illustration of how catastrophically exposed Britain is to the financial crisis, this must be it. The UK followed the mantra of “spend first, think later” for so many years that we forgot it would all have to be paid off eventually.

Few if any countries are immune to the crisis, but Britain is facing a proportionally bigger bill than most, largely for one specific reason: the regulation system set up by Gordon Brown in 1997 did not clamp down hard enough on those responsible for the current crisis.

The final bill for this manic clean-up operation will be enormous and future generations will end up paying, not just us. But this is no time to quibble – it is time to tackle this crisis head-on and put the building blocks in place for an eventual recovery.

Let us hope that Gordon and Alistair have for once got the numbers and decisions right.

We need more than Darling’s £50bn gamble to stave off recession - Telegraph