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  PaulB - Good news indeed but lets strip out Labour's absurd spin.
  
  Of the 1.1% growth just 0.1% was down to government spending. If anything this totally justifies George Osborne in tackling the UK's main problem, the huge deficit, mainly through public spending cuts.
  
  Whatever Labour apologists claim the government cannot continue to spend £4 for every £3 of income. Failing or delaying dealing with this would see a financial crisis against which the credit crunch would pale into insignificance.
  
  George Osborne is actually supported by the consensus of opinion among economists. The minority who disagree are led by David Blanchflower who I met in January. His case was exemplified by a single quote 'the price of 5% plus inflation per years for 5 years is a price worth paying'. He, unlike me, is not living in the real world advising elderly people manage their finances many of whom would see their living standard plummet 30% or more if he got his way. It is not a price worth paying, allowing inflation to reduce the debt burden while people get thrown to the dogs.
  
  Labour's way of spend, spend, spend is simply the economics of the madhouse.

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