It’s a recovery by the smallest of margins – the Office For National Statistics could easily revise that figure down as Paul Mason at the BBC implies what would have happened if it wasn’t for a) low interest rates, b) numerous micro schemes to stop foreclosures and job losses from spiralling into a deeper recession, c) £200bn quantitative easing, d) the falling pound and e) car scrappage schemes across Europe. Also discretionary public spending and the VAT cut where on earth would we be?

And Cameron wants to start cutting public spending straight away if the opinion polls are bourn out and he gets into office – madness.