Chancellor stands by upbeat view on growth

Article Abstract:

The UK economy will expand by between 1% and 1.5% in 1999, according to Chancellor Gordon Brown in his 1999 Budget. Economic growth will rise to between 2.25% and 2.75% in 2000 and to as much as 3.25% in 2001. Mixed views have been expressed about these predictions. Some observers feel that Brown is being unrealistic, while others feel that recent interest rate reductions have improved the prospects of growth targets being met. Brown anticipates that net trade will continue to restrict economic growth and that manufacturers will continue to experience difficulties.

Government domestic functions, Legislative Bodies, Budget, National Government Expenditures, Analysis, Budgeting, Budgets, Economic development, Public expenditures, Brown, Gordon (British politician)

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Forecasts for 1999 are getting gloomier

Article Abstract:

It is now widely believed that the UK economy will shrink substantially in 1999 and only just avoid recession. Independent experts anticipate that gross domestic product will rise by only 0.8% in 1999, compared with forecast growth of 2.6% in 1998. The extent of the economic decline will be largely determined by the slump in consumer spending. There will be particular problems for manufacturing companies, and it is likely that a substantial number of manufacturing jobs will be lost.

Gross Domestic Product, Manufacturing Production, Economic aspects, Recessions

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City takes a stand on Euro-tax

Article Abstract:

Financial experts in the City of London, England, fear that plans by the European Commission to introduce a withholding tax on investment income could have a very negative impact on the $2 trillion Eurobond market. They believe that Eurobond trading could have to move from London to New York, NY, thus placing up to 10,000 jobs in danger. The key issue is that the Commission's proposals will affect wholesale financial markets which are currently exempt from withholding tax.

European Union, Government Bonds, Employee Withholding Taxes, Planning, Taxation, Government securities, Tax policy, Withholding tax

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