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    Just to repeat the indicators of economic recovery as identified by Lord Bates - with a couple more for good measure. This is a direct copy from his article.

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    Employment levels in the private sector are now at all-time record levels. There have been over 1 million new private sector jobs created since the 2010 General Election, more than replacing the 489,000 jobs lost in the public sector. Unemployment has fallen for the fifth successive month in a row.

    Industrial output rose by 2.9% in June—its fastest rise for twenty-five years.

    Manufacturing output rose by 3.3% in June—its fastest rise for ten years.

    Business start-ups in 2011 were the highest for decades: There were 471,466 new private sector businesses started last year compared to 16,621 business insolvencies.

    Exports from the UK reached £39.2 billion in June, 2012 close to all-time record levels—the record level being set in November, 2011.

    Key market exports China exports are up 74% in the past year; exports to India up 94%; exports to Russia up over 100%.

    Domestic house prices rose for the first time since 2009 in July, up by 0.8% on the month.

    UK balance of payments deficit narrowed from £4.3 billion in June to £1.5 billion in July confirming a trend which showed that between May and July the overall trade deficit of the UK narrowed from £10.5 billion to £8.6 billion over the previous three months.

    Central government receipts increased by 3.6% in June over the same period in 2011.

    Real incomes set to increase in 2013 according to the Centre for Economic & Business Research. Moreover, incomes will rise fastest for the lowest income earners (1.5%) and least for the highest earners (0.5%)

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    He then goes on to say: ''That isn't a 'green shoot' it is more like an economic green field.''

    I know that there are people who do not want to see recovery posting here and are eager to pounce on anything negative and it is important to put these Jonah's into perspective.

    We need to talk up recovery, not talk it down.

    Osborne needs also to capitalise on this and reinforce what is happening in the ways I have suggested previously and speed up recovery. Despite the good news we cannot afford complacency.

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