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Indiana Darling and Temple of Boom

Chancellor Alistair Darling was told by MPs last week that he must he become more “Indiana Jones” in leading the country out of the financial crisis.

Giving evidence before the Treasury select committee, Darling was challenged over the Government’s handling of the economic turmoil. Labour MP for Newcastle Central Jim Cousins said to Darling: “If you are going to lead us into this Temple of Doom, the British people will look to you to behave like Indiana Jones.”

Darling refused to apologise for the claims made by himself and Prime Minister Gordon Brown to have extinguished the cycles of boom and bust.

Conservative MP for Chichester Andrew Tyrie said: “You are effectively still in denial. We have a Prime Minister who said over 100 times in the Commons that he had abolished boom and bust and, in saying you had abolished boom and bust, didn’t it make it more difficult to spot the next one when it came?”


Will QE become QED?

There is considerable uncertainty about what quantitative easing means, how it will be implemented and what will be the effect.


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