Is Gordon Brown on a mission to prove he is out of touch with what’s happening in the economy? First he tells us inflation is at a record low. Today he offers a £1,500 incentive for certain groups of people to enter a shared equity scheme to buy a house. But today the Halifax shows (Word doc) that the average house price fell by £4,870 last month alone – that’s 2.5%, the worst drop since 1992. Who on a low income and in their right mind would buy into such a market? Events are overtaking Brown at a bewildering speed.
For more on matters financial and economic, head over to Trading Floor.
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