POLITICS

George Osborne Gets Most Credit For The UK's Economic Recovery

18/08/2014 11:22 BST | Updated 18/08/2014 11:59 BST
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George Osborne, U.K. chancellor of the exchequer, speaks during the Commonwealth Games Business Conference in Glasgow, U.K., on Tuesday, July 22, 2014. Scotland holds a referendum on Sept. 18, with the main political parties in London united in their opposition to the nationalists led by Scottish First Minister Alex Salmond. Photographer: Simon Dawson/Bloomberg via Getty Images

Chancellor George Osborne deserves the credit for Britain's economic recovery, a new poll suggests.

A YouGov survey for the Times found that of the 52% surveyed who thought the coalition deserves credit for the economic bounce-back, nearly two-thirds (65%) said it should go to the Tories, while only 35% said the Lib Dems.

The poll, which will be a boost for the Tories, found that 8% of voters said the coalition should receive "significant credit" for the economic recovery, while 44% said it only deserved "some credit".

This comes after the latest figures from the Office for National Statistics (ONS) showed that the UK economy was growing at its fastest rate since 2007, and is now 3.2% larger than it was this time last year after GDP grew 0.8% in the second quarter of the year.

Others have been muscling in to claim credit for the economic recovery. Deputy prime minister Nick Clegg seized on news of the recovery to boast about the role his party has played in government, claiming: "There would be no recovery without the Liberal Democrats."

Top Bank of England official Paul Fisher said in August that the Bank's prudent policies had safeguarded the recovery.

Fisher, who is now head of the Bank's Prudential Regulation Authority, credited the central bank's policies like the quantitative easing stimulus package and the Funding for Lending programme with boosting banks' lending and restoring economic growth.

"A number of our policies had very big powerful effects on the recovery phase, and, without doubt, things would have been much worse if we hadn't stuck to our guns," he said.

Former Labour prime minister Gordon Brown was widely mocked when he accidentally boasted to MPs that he "saved the world" soon after the financial crash.