The wrong kind of snow George?

By Mark Ferguson / @markfergusonuk

George Osborne’s claims that the snow was responsible for the fall in GDP at the end of 2010 did, in part, seem to make sense.

However, as is often the case in economics, it’s worth contrasting what happens in the UK with what happens in the US. In America, the December 2010 blizzard was the so significant it has its own Wikipedia page – yet in last quarter US economy grew by 0.8% (compared to our 0.5% fall).

Credit is due to shadow Treasury minister David Hanson who made the comparison in an interview with Politics Home, saying:

“Ministers are going to have to explain why they put all the blame for the terrible growth figures this week on the snow even though, in the midst of severe blizzards, the US economy grew faster than ours shrank.”

“Perhaps George Osborne believes we had the wrong kind of snow?

“The truth is it’s becoming increasingly clear that in Britain we’ve now got the wrong kind of policies. George Osborne needs to take another look at the facts and rethink his reckless plan to cut too far and too fast. He needs a plan B and he needs one quick.”