The Rt Rev Justin Welby has warned Britain's economic activity levels are below where the country was over five years ago.
The new Archbishop of Canterbury's comments follow an interview on Monday in which he stated that the UK's is in an economic depression and could take a generation to recover.
Historically depressions have been recognised as lengthy periods in which the economy did not get back to its previous level of activity before a recession set in. So 1929 to 1932 is the great example. There was a big one towards the end of the 19th century.
We are still significantly below where we were in 2007 in terms of economic activity, of GDP, and that's quite a long time of being below.
Now, I'm not pointing any fingers at anyone in particular and saying it's so and so's fault or so and so's fault, it's simply a measurable fact coming from the national statistics.
It's very much (more) noticeable in London, I have to say, than in the north east where I was living previously. Do I mind ruffling feathers? I think I do mind ruffling feathers, I don't like ruffling feathers - but sometimes feathers get ruffled. I mean that's life.
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