Foot in mouth.

I think Lord Young's "never had it so good" statement was not so much inaccurate as simply ill-judged and badly expressed.  The point he was making - quite correctly - is that those on a variable-rate mortgage have seen the cost of servicing that mortgage drop dramatically as a result of interest rates coming down to an all-time low, and that this has put significant money into such people's pockets.  What it ignored was that for a lot - maybe even most - people, such comments are academic, because they are in rented property, or on a fixed-rate mortgage.  And of course for retired people like me, low interest rates simply mean less return on our savings.  I don't think selective reporting helped, but he sure could have chosen his words better.