British economy facing 'worst downturn in 60 years': Darling

0 Comments | AFP, August, 2008

LONDON (AFP) — The British finance minister has warned the country is facing "arguably the worst" economic downturn in 60 years and says it will be "more profound and long-lasting" than people had expected.

Chancellor of the Exchequer Alistair Darling also admits in an interview with Saturday's Guardian newspaper that he had no idea how serious the credit crunch would become.

Darling also concedes that the beleaguered ruling Labour Party of Prime Minister Gordon Brown is partly to blame for its own woes because it has failed to properly communicate its aims to the country, leaving voters angry.

Darling warns that the economic conditions faced by Britain and the rest of the world "are arguably the worst they've been in 60 years".

He adds: "And I think...