Here is Gordon Brown’s five-step plan to escape blame for the credit crunch.
1) Blame America for the credit crunch, present Britain as the innocent victim of a global storm.
2) With a straight face, claim the economy is well-placed to withstand the crunch, even though the UK household debt/income ratio is the highest in the G7.
3) Present a fake narrative of the early 1990s, and compare it with equally fake stats about how good things are now.
4) Point to Bank of England rate cut as proof you are helping (even though, by making the BoE independent, no honest politician can claim credit/blame for its decisions).
5) Encourage journalists to blame lenders for “failure” to pass on rate cuts.
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