The IMF has today released figures comparing the budget deficits of the G20 nations. Guess who has the biggest? Got it in one. Our budget deficit will reach 13.3% of GDP in 2010. Our national debt is growing proportionately faster than other countries, too.
Can it be much longer before our credit ratings are downgraded? That's when a drama really does become a crisis. George Osborne has just issued a statement which ends: "Gordon Brown's denial of the truth about the debt crisis and the need to cut spending whoever wins the election is doing serious economic damage to Britain's recovery.” He's right.