Thursday
The number of county court actions for mortgage and secured loans has also risen steeply over the last few years. Between 2004 and 2006, the number of mortgage possession claims has increased by nearly 70% and the number of possession orders actually made by 94%. The number of possession actions in 2006 is now similar to that seen at the beginning of the mortgage repossession crisis in 1990.
- from a Citizens Advice Bureau report just released, quoted today by Guido, who says: "Somebody should dig out that old Labour Party general election poster which blamed house repossessions on Hague and Portillo, changing the pictures to Brown and Darling. So much for an end to boom and bust ..."
Markets get overvalued and correct themselves. I'm sure the Tories will try and make as much of this now as Labour did when it was their turn, such is the nature of politicians.
Posted by Lascaille at February 14, 2008 12:15 PM
The Dear Leader only ever pledged to end Tory Boom and Bust. He never said he wouldn't get round to giving us the NuLabor version.
Every Labour government has always ended in economic disaster, they just can't help themselves. It's only a matter of time, and that seems to be running out for this particular shower.
Posted by John K at February 14, 2008 03:47 PM
John K, you forgot to add that when the Tories have come along in the past and cleared up the socialist mess, economic recovery always emboldens the dumb electorate to turn socialist once again.
I fear this cycle is unbreakable.
Posted by John East at February 14, 2008 06:06 PM
Not to worry chaps. I have it on the highest authority, (Ken Livingstone), that this particular problem is all Bush's fault.
In fact, I heard down the pub, (well outside the pub while I was freezing my cobs off feeding my nicotine habit), that Ken Livingstone was all Bush's fault.
We are all as children in the face of the evil, but dumb, Bush and his VRWC.
(Cunning ploy though; ruling the world through a bunch of middle class English women dressed in 1940's uniforms. Or am I thinking of the VWR)
Posted by Kevin B at February 14, 2008 07:53 PM
