You’ve never had it so good

As Michael Gove said at the launch of the Conservative Party manifesto: “Britain in 2010 is a great place to live in many ways” (4:12 in on this video). Lord Young, The Spectator’s Peer of the Year, agrees: for many of us, we’ve never had it so good. He told the Telegraph:

‘For the vast majority of people in the country today, they have never had it so good ever since this recession – this so-called recession – started…Most people with a mortgage who were paying a lot of money each month, suddenly started paying very little each month. That could make three, four, five, six hundred pounds a month difference, free of tax. That is why the retail sales have kept very good all the way through.’

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Ross Clark

Britain is living beyond its means

All of that is true – this is a happy time, a very happy time, if you’re employed and borrowing.