For me, the key line comes in at exactly one minute: “You cannot cut your way out of recession, you’ve got to grow your way out of it.”
Compare and contrast with the his speech this afternoon, being heavily spun as talking about cuts. This, of course, is the man who used to tell us that Britain was the best-placed to come out of recession, but we’ve now seen France and Germany – among others – come out before us.
Now it seems there’s agreement on the scale of the problem, who do you trust to deal with it? The Conservatives who have always been honest about the need to address public spending? Or the man who, as Iron Chancellor, created the problem, as Prime Minister failed to tackle the problem, and as dead man walking realises the Conservatives are right?