BBC: The UK is facing its worst economic crisis in 60 years, Chancellor Alistair Darling has admitted.
He told the Guardian newspaper that the economic downturn would be more "profound and long-lasting" than most people had feared.
Using strong language, Mr Darling acknowledged voters were angry with Labour's handling of the economy.
Ministers are expected to announce a package of measures next week to kick-start the moribund housing market.
Voter anger
House prices are falling at their fastest rate in 18 years, leading to fears of a wave of repossessions in the upcoming months.
Mortgage lending has slowed dramatically due to the credit crunch while key indicators have suggested that the economy could be poised to go into recession in the near future.
The economy showed no growth in the second quarter of the year while building firms and retailers have laid off thousands of staff in recent weeks amid fears that the economy will deteriorate further. Darling Warns of Economic Crisis >>> | August 29, 2008
THE GUARDIAN:
Economy at 60-Year Low, Says Darling. And It Will Get Worse: In an exclusive interview, chancellor says Labour failing to communicate with voters.
Britain is facing "arguably the worst" economic downturn in 60 years which will be "more profound and long-lasting" than people had expected, Alistair Darling, the chancellor, has told the Guardian today.
In the government's gravest assessment of the economy, which follows a warning from a Bank of England policymaker that 2 million people could be unemployed by Christmas, Darling admits he had no idea how serious the credit crunch would become.
Darling's blunt remarks lay bare the unease in the highest ranks of the cabinet that the downturn is making it all but impossible for Gordon Brown to recover momentum after a series of setbacks.
The chancellor, who says that Labour faces its toughest challenge in a generation, admits that Brown and the cabinet are partly to blame for Labour's woes because they have "patently" failed to explain the party's central mission to the country, leaving voters "pissed off". >>> By Nicholas Watt, chief political correspondent | August 29, 2008
THE TELEGRAPH:
George Osborne Slams Alistair Darling for British Tax Exodus: Shadow chancellor George Osborne has accused Alistair Darling of damaging the UK economy as yet another company confirmed it is quitting the country for tax reasons >>> By Helen Power and Jonathan Russell | August 29, 2008
The Dawning of a New Dark Age – Dust Jacket Hardcover, direct from the publishers (UK) >>>
The Dawning of a New Dark Age – Paperback, direct from the publishers (UK) >>>
