OECD Report Justifies Labour Approach

The Organisation for Economic Development (OECD) has issued a report which judges that Britain's economic recovery set to outstrip Japan, US and Germany. 

The report broadly backs the success of the Labour Government's approach to recovery, i.e., continued Government investment until the markets are active enough to generate growth under their own steam.

Britain's economic growth is set to pick up in coming months and outstrip that of the United States, Japan and Germany, according to forecasts today from the Organisation for Economic Co-operation and Development (OECD) that come as a boost to Gordon Brown's government ahead of the eelction.

The Paris-based thinktank revised down its previous view on Britain's first quarter annualised growth to 2% from 2.4%, but that pace still beats its forecasts for Japan and Germany.
In the second quarter of this year, the OECD sees UK growth picking up to 3.1%, outpacing the United States, and all other countries in the G7 group of large economies apart from Canada.

The Conservatives approach has been and would be to cut deep and cut early. These figures, this report, shows that the Conservatives are wrong and, if the economy had been subject to their great "austeriy" plan, we would now be worse off, deeper in recession, perhaps not coming out of recession and/or risking a "double dip" recession.