Judging by this clip Mandelson is back in charge of the Labour spin machine. None of that low-life smearing for him - he'd never do that, would he? No, he's back to making up stories about the Tories being happy the country is in recession.
That's just good old-fashioned spin, lies and innuendo with no basis in the facts. Nothing wrong with that! Expect a lot more of it over the next week when Alistair Darling delivers his "crisis budget".
But do just watch out for the spin it will be given for a couple of days until the figures are ripped to shreds by the Opposition.