You couldn’t move for the green shoots on the way down – and we are drowning in the double dip on the way back up. If we weren’t confused before, we certainly are now.
It is at this time that we really get to see how vapid and self-serving politicians really can be.
Several recent surveys have borne out what we’ve been saying for over a year: bank lending to business remains desperately weak.
The Bank of England showed 0.7 per cent declines in both money growth and lending during October. Frankly, the government shouldn’t be talking about recovery when the money supply is actually shrinking.
I recently talked to the owner of a card and gift shop in the Midlands. As usual we were discussing finance and her ongoing cash flow requirements. While she has not suffered as severely as many in retail, and has the luxury of owning the freehold on her small shop, she is fearful of the upcoming Christmas season.