George Osborne is given a tour of the production line at Bentley Motors on December 4, 2014 in Crewe. Photograph: Getty Images.
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Fastest US growth for 11 years spoils Osborne's boast

The Chancellor can no longer declare that the UK is the fastest growing major economy.

One of George Osborne's favourite boasts is that the UK is "the fastest growing of any major advanced economy in the world" (as declared in the second line of his Autumn Statement). That was true at the time, with Britain growing at an annual rate of 3 per cent, but revisions today have spoilt the Chancellor's brag.

Earlier today, the ONS downgraded year-on-year growth in the UK from 3 per cent to 2.6 per cent, leaving Britain behind Australia and the United States. Now, just to sharpen the contrast, annual US growth in Q3 has been revised up to 5 per cent: the fastest rate for 11 years and comfortably ahead of the 2.8 per cent posted by the UK over the same quarter. It's true, of course, that the UK has suffered more than its competitors from the stagnation of the eurozone (net trade is down) but Osborne can't make the comparison in good times and then reject it in bad times. And while US GDP is now 8.9 per cent above its pre-recession peak, the UK's is just 2.9 per cent above. 

After this, and Labour's blindsiding of him on spending cuts, the Chancellor would be wise to return a more humble figure in the new year. 

George Eaton is political editor of the New Statesman.

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Michael Gove definitely didn't betray anyone, says Michael Gove

What's a disagreement among friends?

Michael Gove is certainly not a traitor and he thinks Theresa May is absolutely the best leader of the Conservative party.

That's according to the cast out Brexiteer, who told the BBC's World At One life on the back benches has given him the opportunity to reflect on his mistakes. 

He described Boris Johnson, his one-time Leave ally before he decided to run against him for leader, as "phenomenally talented". 

Asked whether he had betrayed Johnson with his surprise leadership bid, Gove protested: "I wouldn't say I stabbed him in the back."

Instead, "while I intially thought Boris was the right person to be Prime Minister", he later came to the conclusion "he wasn't the right person to be Prime Minister at that point".

As for campaigning against the then-PM David Cameron, he declared: "I absolutely reject the idea of betrayal." Instead, it was a "disagreement" among friends: "Disagreement among friends is always painful."

Gove, who up to July had been a government minister since 2010, also found time to praise the person in charge of hiring government ministers, Theresa May. 

He said: "With the benefit of hindsight and the opportunity to spend some time on the backbenches reflecting on some of the mistakes I've made and some of the judgements I've made, I actually think that Theresa is the right leader at the right time. 

"I think that someone who took the position she did during the referendum is very well placed both to unite the party and lead these negotiations effectively."

Gove, who told The Times he was shocked when Cameron resigned after the Brexit vote, had backed Johnson for leader.

However, at the last minute he announced his candidacy, and caused an infuriated Johnson to pull his own campaign. Gove received just 14 per cent of the vote in the final contest, compared to 60.5 per cent for May. 


Julia Rampen is the editor of The Staggers, The New Statesman's online rolling politics blog. She was previously deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines.