Lamont expected to put off raising taxes until December
Article Abstract:
The 'Green Budget' publication of Goldman Sachs and the Institute for Fiscal Studies 1993 predicts tax increases in the Dec 1993 budget. They will probably affect national insurance contributions or VAT on extra goods. Lower interest rates should aid recovery and improve export by weakening the pound sterling. Public borrowing will increase by 38 billion pounds sterling as the recession deepened unexpectedly.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1993
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Paying the price for club membership
Article Abstract:
The European exchange rate mechanism has caused high interest rates and worsening recession. Five countries have devalued or withdrawn. Member states had to equal higher German interest rates to maintain the value of their currencies. The economic effects on member countries are explained. German reunification causes risk of inflation but other countries need lower interest rates.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1993
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