I think Gordon Brown is simply mad, he never had a grip on reality and now he has lost what little he had. He is living in a dream world and leading his country towards a disaster.

Christopher Holland, Canberra, Australia

O wise Matthew Parris. He is so right, but Brown is actually thinking 'if I win this argument, I'm also going to win the next election and if I'm wrong, the Tories are going to have to clear up the mess'. So he is happy, for the sake of his own messianic delusions, to rubbish the future of Britain.

John Lamble, Prague, Czech Republic

If we could spend and borrow freely in a recession then we would not have had a sterling crisis in every Labour government in 1927, 1947, 1967 and 1976. This one is doing all the same things: over spending, over borrowing and featherbedding its voter base. Why should the outcome be different?

R Mason, London, UK

We should be voting for a change of system, not a change of government faces. Neither party will change our fate, but a system change wiil. The flaws in the financial system are there because of the system. The Westminister system of government needs a major workover. Party politics is a disaster.

Jim Wills, Brisbane, Australia

Anatole can surely not be ignorant of the decades and trillions wasted in Japan by repeated 'stimulus' packages, all of which were subverted by 'Ricardian equivalence' as Japan's population sought to protect themselves against the consequences of the damage to the public accounts. Same to come here.

Michael Taylor, Old Malton, United Kingdom

Yes it is a mirage, there is no escaping debt, government or otherwise. Injecting more money in the economy will not overcome the collective unconscious fear that we are at the end of a natural and unsustainable cycle. Riding it out is the only sensible position.

Henry Northcroft, London,

Is Mr Kaletsky still consulting the same crystal ball he used back in January when he informed us that the credit crunch was over and there would be no recession in the US this year et cetera? I should take it back and ask for a full refund if I were him.

Joss, Kent,

Arnold Attard - Well said, my friend. Taxes in this country are as high as our overpriced railways. By reducing them, people will have more money which they would spend, creating a consumer boom which our industries need at this moment in time. We're all in this together, politicians please note!

Ian Dickson, Brighton, UK

Tax cuts now funded by public spending cuts in 2010-2013
would work. What to cut? unfunded index linked pensions,
staff numbers in the public sector and the many quangos
would pay for it, no need to cut frontline health, education,
defence at all.

Roger, Weymouth, UK

All those shouting about a "run on the pound" and the "disasterous devaluation" should remember that the pound is more or less at the level when the Tories were last in power.

Which the Tories like to boast was when they handed over a "golden economic legacy". Involving a low pound....

Nick, France,

Brown won't call an early election because:
1. He can't let go of power.
2. He wouldn't like the image of being a political opportunist. (Laughter)
3. He fondly hopes the recovery will be in place by spring 2010. (Tears)
4. He's not at all sure it's winnable.

Cameron should relax and wait it out.

Paul Freeman, London, England

Anyone with common sense should see that Brown and Darling are bent on crippling the country which they have already succeeded in making a welfare state.
Perhaps Vince Cable should offer his services to whomever takes over the reins of the next Govt.
I doubt anyone can resolve this mess!

Chips Westwood, Sarlat La Caneda, France

Recession is needed, long term steady growth leads to arrogance, greed and complacency. There needs to be and will be a clear out once in a while. Also, the drop in oil prices will greatly harm the plans of Iranians, Russians and SNP! So its not all bad. Brown is trying to save his neck

Adrian, London,

Anatole Kaletsky hasn't been right yet, so why should he be right now? His interview on the Today programme this morning was hilarious.

Peter Fullerton, Winchester, UK

I agree with the thoughts expressed by others here but the time for chat has gone.

Now we should be making sure we and our households are in a better position to weather the storm. Make sure our communities are in a better position to do so and then get our heads down for the long haul

Barbara , Bristol, UK

Kaletsky has long been a Brown acolyte and can see nothing wrong with 11 years of tax and spend with nothing saved. I have learned with experience to read Kaletsky's pronouncements and wait for the opposite to occur, which it usually does.

Bruce Burniston, Swansea, UK

Before long Brown will blame us for not spending what little we have.
Of course we will keep his tax-break in the Bank.
Never his fault of course !

Denise, Leicester, UK

Brown won't wait until the Summer. He already knows the seed corn is dud, so he'll stage a General Election as soon as possible after the New Year sales.

Drew, London,

I hate to say it but this will do no better than sweeten a very bitter pill. This recession is going to bite & bite hard, this policy is akin to building a levee out of sand - it will slow the flood but then break with even worse consequences. This will not work, the family silver has been spent.

S, LONDON, UK

Could some of this have avoided if only people had remembered history at the 2005 election?What do 1931 McDonald/Snowden,
1949 Atlee/Cripps , 1967 Wilson/Callaghan , 1976 Wilson/Healey and 2008 Brown/Darling have in common? Yes , a Labour Government ...always a devaluation/financial crisis.

Alasdair, Bushey Heath, Herts

DC is not the answer to GB, it is clear from his statement. GB said the Tories are as blue as ever and now we have the proof!!! Lets have Vince Cable as PM that would give them both something to sqabble about. Shame on the Tories!!!!

James, Brighton, England

People are running scared. Any money Brown gives them back to 'stimulate the economy' is likely to go straight into cutting back debt; paying off the mortgage arrears or into a bank account for a 'rainy day.' We all know he will want the money back with interest, so why spend it. I for one, won't be

Donna Walker, Effingham, England

You can only stand for so long, Mr Parris, in the way of progress. Soon you, too, can wear the shirt with pride -- "Young, gifted and fiscally stimulated".

David Moss, London, UK

well said. it wont work because the reccession is stil intensifying, so even if it does provoke some spending by the poor it wont be enough to counter the ever worsening climate. not to mention that anybody who gets given this handout will probably save it, to pay for the inevitable tax rises coming

will, grimsby, uk

Absolutely right. Brown's entire running of the economy has been a mirage.

Jean Andrews, Staplehurst, UK

Recessions are an opportunity for lowering prices and by so doing improving productivity and demand.
I sugest you lower the cost of utilities by 35%, petrol by 35%, and council tax by 35% .
You'll find that many of the problems would disappear over night.

Arnold Attard, Bergamo, Italy