Advertising

Recession expert

News | Published:

Lord Lamont is in demand as an interviewee and expert on 'recession and depression'. James Falla was one of many speaking to him last week and found out that a cigar could be the answer to all Britain's problems.

Lord Lamont is in demand as an interviewee and expert on 'recession and depression'. James Falla was one of many speaking to him last week and found out that a cigar could be the answer to all Britain's problems.

NEARLY 20 years after he lost one of the most important jobs in British politics, Norman Lamont has found himself very much in demand.

He was most famously Chancellor of the Exchequer from 1989 to 1993, a fairly depressing economic period at times, with high interest rates, rising inflation, and the notable withdrawal of the pound from Europe's exchange rate mechanism on so-called Black Wednesday in 1992.

Last week, he was interviewed frequently following the publication of GDP figures indicating a 0.3% contraction in the economy and the potential for a triple-dip recession.

When it came to the economy, Lord Lamont – and Lord Lawson – were adamant that austerity was the path to pursue.

'The danger is, in two or three years' time, the economy will have slimmed down. Our austerity is extraordinarily mild compared to other countries. Quite rightly, we are doing it gradually and anybody saying this is extreme is not realistic.'

  • Read the interview with Lord Lamont in today's Guernsey Press

Sorry, we are not accepting comments on this article.

Advertising

Top Stories

Advertising

More from the Guernsey Press

Advertising

UK & International News