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Finally the government admit recession is likely

While the Bank of England had already softened the ground with suggestions that the UK is heading for a recession it was finally time for Gordon Brown to wake up and smell the coffee today as he agreed that a recession was a distinct possibility. However, he has admitted this at a time when the Tory Party is under severe pressure with regards to a suggestion that they attempted to arrange a party donation from a Russian businessman. Clever work from the PM!

It has also been revealed that the fall in the value of sterling has seen it fall to its lowest level against the dollar for 16 years. In a vein attempt to disguise the fact that he was in charge of the country and the economy for a decade, Gordon Brown has grouped the UK in with all other major countries around the world to suggest that a recession was inevitable - not quite what he was saying just a few days ago.

While the Labour Party continue their offensive on the Tories over the donations question it seems that we are now falling back into the Labour Party years of spin and the 'whiter than white' promise from Gordon Brown has gone out of the window.

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