Britain will suffer the deepest recession of all its major European partners. 
We are avoiding EU sanction over our debt levels solely because we did not join the Euro. However, the Government has no major plans to cut wasteful public expenditure or introduce the tax cuts needed to spur economic growth. Consequently, the European Commission estimate that Britain will not begin to recover until 2010, while our European partners will start to recover in 2009.
For many years Britain has been moving in the wrong direction. It has increased taxes, while our European partners have reduced them and the competitiveness of Britain as a base for business investment has thus declined. Now Britain faces increasing public debt, increasing unemployment, high taxes, poor public services and low economic growth. Mr Brown's promises that he had abolished boom and bust now seem a little hollow. The question is, will Mr George Osborne actually cut taxes in Government or is he still committed to matching Labours wasteful spending plans.
