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On the eve of what is sure to be Alistair Darling's most important political statement there is speculation and counter speculation about how he will address the situation of the UK economy next...
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Sunday 27th July 2008
The financial newspapers are today full of stories about Gordon Brown relaxing the financial rules which he has used throughout his time in office to fund a £14 billion tax giveaway. Despite being on course to borrow over £50 billion this year alone it seems that there may be another £14 billion to borrow from the money markets. So what is happening?
There are two trains of thought which include the idea that the unions are again starting to pull the strings of the Labour Party and demanding wholesale tax cuts and more help for those on the breadline. While this is a conceivable idea the main reason would seem to be a final throw of the dice to try and win back the electorate. The latest opinion polls put the Tories twenty two points ahead overall but rather worrying twenty fours points ahead of Labour in the key marginal seats which will decide the next General Election.
Gordon Brown is really up against it with many MPs speaking openly about a leadership challenge and the knives expected to be out while he takes his summer break. Whether Gordon Brown will still have an office to come back to remains very much up to the senior politicians of the party with Jack Straw seemingly the kingpin in the whole situation. |
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