Gordon Brown and the Bank
Article Abstract:
The United Kingdom chancellor has forecast growth of between 1% and 1.5% for the UK for 1999, a downward revision, but still more optimistic than forecasts from many independent economists. This optimism fits uneasily with the Bank of England's 0.5% drop in interest rates. Brown also foresees a recovery to some 2.5% for 2000 and 3% for 2001. Governments have previously foreseen budget surpluses, and have found that slower economic growth than forecast has hit government finances. Brown's forecast may be too optimistic, but the budget is likely to be in balance during the economic cycle. He could be criticised for complacency if growth is slower, and could have made a less optimistic forecast, blaming it on global factors.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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Brown shuffles the pack: did Middle Britain really get off scot-free in Gordon Brown's budget?
Article Abstract:
Middle Britain was relieved that Gordon Brown's proposed budget spared tax relief on mortgage-interest payments and the child benefit. Yet, Brown was able to help the poor while sparing the middle class. For example, he did propose the 'Working Families Tax Credit.'
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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