Gordon Brown Boom & Bust

Gordon Brown’s first pre-budget report, 1997:

“For over 40 years our economy has an unenviable history, under governments of both parties, of boom and bust. So, against a background of monetary uncertainty and instability in the global economy, we set about establishing a new economic framework to secure long-term economic stability and put an end to the damaging cycle of boom and bust.”

Gordon Brown’s speech to the British Chambers of Commerce national conference, April 2000:

“The government has created a new economic framework to avoid the historic British problem – the violence of the repeated boom and bust cycles of the past.”Gordon Brown’s speech to the Labour Party conference, 2004: “No longer the boom-bust economy”.Gordon Brown’s speech to the Labour Party conference, 2005: “Why has it been that at every point since 1997 faced with the Asian crisis, the IT collapse, a stock exchange crash, an American recession, last year a house price bubble, this year rising world oil prices, why has it been that at every point since 1997 Britain uniquely has continued to grow? In any other decade, a house price bubble would have pushed Britain from boom to bust.”

Gordon Brown’s budget speech, 2006:

“As I have said before, Mr Deputy Speaker, ‘No return to boom and bust’.”Gordon Brown’s budget speech, 2007: “We will never return to the old boom and bust.”