Wrong. The dry up of personal lending/home improvement/unsecured lending ALONE since October 2007 will account for a fall of 3.6% GDP over the next year. Thats Huge. During the last recession, GDP only fell 1.4%. Do the research.
Thats before we get into mass unemployment, falls in finance sector (Banking accounts for 10% of GDP alone, funny old thing, they are going bust now due to Labours ineptitude) higher debt servicing costs (now Gordon has been proved a complete imbicile and blown his 40% promise and not saved a penny for the rainy day), practically nonexistent export market, higher welfare costs thanks to Labours policy of giving lazy people benefits to not work...
Face facts Pr00ne, your beloved Labour government have managed to do it again. They have turned a stable, easy-to-run economy into a nuclear wasteland by blowing the blinking lot. The Conservatives, once again, aregoing to have to fix this sorry mess, like they did in the 70's, after the last Labour government cocked it up for us all. except this time, north sea oil is not going to bail us out.
If you think this is going to be like the 1990s, you are mistaken. Gordon/Tony have gone and cocked this one up good and proper.