Lord Young of Graffham, one of Lady Thatcher's bright boys brought in by Cameron for his experience, has his own take on this recession. Through his eyes many of us have 'never had it so good'.

Speaking to the Telegraph Lord Young showed us what he really thinks and, despite later grovelling apologies, nothing will convince people anything other than this is how he will continue to think and what he still truly believes. David Cameron has said he is 'very unimpressed' by the peer's remarks. Well Prime Minister, it is up to you to show us how unimpressed you really are.

Lord Young on the loss of 100,000 public sector jobs a year – it's within 'the margin of error'.

On the 'vast majority' of people – they have never had it so good during this 'so-called recession' because anybody with a mortgage 'suddenly started paying very little each month'.

On the pound – He says it was kept up by the coalition overstating the impact that government cuts would have on the country.

In government cuts – in four years time we will be spending the same as in 2007 when there were no problems. So everyone will look back and ask what was all the fuss about. And the only ones who will complain will be freeloaders.

Well an update for you Lord Young.

Anyone who has worked hard all their life and lost their job through no fault of their own but through banking and government failure has a right to feel angry at your words. And that is probably the vast majority of them.

Not everyone has a mortgage Lord Young. Especially the older ones whose savings are being trashed by low returns. And those paying rents are not helped either. And, the only people who really benefited with a mortgage over the period were those that took out trackers within a specific time frame. Most other people have paid the going rate.

The coalition have not overstated anything, they told how they saw it.

The cuts have not yet started in earnest yet, when they do you might just end up changing your mind. And it was the  spending during 2007 that has contributed towards this current mess, it's just that the spenders couldn't see it coming. Of course there were no problems then, because our children and grandchildren will now be picking up the bill on the huge and still growing £4.8 trillion debt that you seem so sanguine about.

It is over the coming years that we will find out how painful the hangover is going to be.

Lord Young is well past his sell by date and should be put out to pasture at the earliest opportunity or he will continue to be an unpinned grenade in the coalition party's pocket. Get rid Dave, get rid! Or keep the 'Nasty Party' image.

Comment Here!