Former PM John Major predicts economic recovery

Sir John Major: Britain’s recession takes a turning point having passed its “darkest moment”...

15:19 17 September 2012

The UK’s former Prime Minister Sir John Major has claimed the country is set to see a steady economic improvement, with unemployment figures falling and a rise in the stock market.

 

While speaking on the ‘Andrew Marr Show’ Sir John declared Britain may have already ‘passed the bottom’. This news comes two decades after the country pulled out of the European Exchange Rate Mechanism dubbed as Black Wednesday.

 

“There are some oddities in the figures at the moment. Why in the depths of this recession is employment growing, why is industrial production going up, why has the stock market risen?” he said.

 

"Recovery begins from the darkest moment. I'm not certain, but I think we have passed the darkest moment."

 

Sir John also praised the coalition government for their running of the country, admitting that it would not be an easy feat given the current economic climate. While on the show spectators heard the former leader urging Tory MP’s to support current PM David Cameron, explaining that there are bound to be critics as times were tough.

 

"David Cameron is prime minister. He is going to remain prime minister and he is going to contest the next election and I very much hope he's going to win it," he added, as quoted by the BBC.

 

It was Sir John who was part responsible for keeping Britain from joining the euro and enabling Brits to keep the pound. Reportedly he fears the euro zone could lead to a two-tier Europe and there are considerations relating to Britain’s future relationship with the EU.