Quite how different they would be will surely now be a matter for heated political debate - though an honest economist would tell you we can never know the answer.

BBC: Mr Osborne's unwelcome statement

And though I will never be satisfied while people are out of work and our financial system is weakened, we can be confident that the storms of the past two years are beginning to break.

WHITEHOUSE: President Obama on the Anniversary of Lehman's Fall