Gordon Brown defends decision to increase the budget deficit
Gordon Brown has today told a committee of MPs that he was right to increase the budget deficit and government borrowings in order to combat the recession. In a move which places him at the opposite end of the spectrum from the Conservative party, Gordon Brown believes it was "essential" to spend, spend, spend in order to protect jobs and protect businesses. But will it be enough to sway voters in his favour at the general election?
The decision for voters at the UK is becoming very simple, either support a government which is prepared to spend, spend, spend to save jobs and businesses against the Conservative party which is looking to reduce the government budget deficit and government borrowings while also looking to rebuild the economy. It will be interesting to see how the opinion polls develop as we approach the election with the Conservative party today confirming a number of economic initiatives which would allow businesses and consumers to monitor Conservative economic policies should they gain office.
Recently Gordon Brown seemed to indicate he was willing to reduce government spending although he may well have had a change of heart and moved in the opposite direction to the Conservative Party. However, what policies the political parties would implement as and when they gain office is another matter!
Share this..
Related stories
Dubai state creditors set to do battle
There are rumours in the financial markets that bankers, lawyers and accountants are making their way to Dubai over the next few days as creditors look to begin a hard fought battle to claim back money loaned to the Dubai World company. As we have mentioned on numerous occasions over the last few days, Dubai World has asked for a period of suspension with regards to debt repayments on its $26 bill...
Read MoreAlistair Darling receives a £12 billion budget windfall
When Alistair Darling steps forward in 10 days time to deliver his budget speech he will be in receipt of a £12 billion budget windfall as a consequence of the recent recovery in the UK economy. In what many believe will be the most politically sensitive budget in years, with the government certain to use the stand to the champion its own political agenda, the divide between the Conservative part...
Read MoreTrade deficit increases as weak pound fails to kick in
The UK trade deficit hit a record high in November as a reduction in demand for worldwide goods continued to grab the headlines. It had been hoped that the significant reduction in sterling against the likes of the dollar would encourage an increase in export levels but so far it has not come to fruition.
The actual trade gap increased to £8.3 billion in November from £7.6 billion...
Would you pay to carry your Egg credit card?
Egg, which is now owned by Citibank, has today revealed the reintroduction of an annual fee in relation to the Egg credit card. Those who take the company's new "cashback" credit card will be charged £12 a year although the company believes that the benefits attached to the card will outweigh this annual fee.
Egg is the first company to reintroduce credit card annual charges and th...
Do we have a competitor for Google?
The news that Microsoft and Yahoo have joined forces under an agreement which will see Microsoft power Yahoo's search engine and Yahoo look after premium advertising for the two companies has been well received by investors. Finally it looks as though we may well have a competitor for Google which has literally dominated the cyber world for many years.
This comes at a time when onli...