How did Gordon Brown get it all so wrong?
Despite having a second honeymoon just a few months ago Gordon Brown is today under renewed pressure as rescue package after rescue package fails to stimulate the UK economy. While much of the blame is now being pointed towards the UK government and Gordon Brown in particular, after his long tenure at the Treasury, there are concerns that he has been caught up in a worldwide phenomenon and could pay the ultimate price. Is Gordon Brown really free of any fault regarding the ongoing recession?
There is no doubt that Gordon Brown continued to spend, spend, spend when the UK economy was doing very well, funding an explosion in public services and the public workforce. However, the US led credit crisis was something unforeseen by the vast majority of experts around the world and has grown into something of a monster. The impact upon the worldwide money market was almost immediate and this then spread into more local money markets freezing local economies and businesses.
Gordon Brown has attempted a number of unconventional economic stimulus packages over the last few months and while none have worked as yet at least he was willing to try something different. Gordon Brown is not blame free for the weak state of the UK finances then again he was not to blame for the credit crunch in America.
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