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George Osborne urges the Bank of England to cut interest rates next week

All political parties, business associations and consumer interest groups have joined in urging the Bank of England to cut UK base rates next week in a move to try and relieve some of the pressure on business and consumers. Some are calling for a half point cut, and more, in order to have any meaningful impact on the UK economy. If the Bank decided to retain rates at current levels we are highly likely to see a major setback in the stock market where interest rate reductions have already been priced in.

George Osborne, the shadow Chancellor, is the man that many believe will need to pick up the pieces of this current Labour government as when the Conservative Party are voted back into power. He must actually be dreading the situation of having to pay back over £100 billion worth of borrowing which the government has built up over the last 12 to 18 months. Historically the Conservative Party has always looked to reduce tax rates to stimulator the economy but unless we see a drastic turnaround this scenario is very difficult to justify.

Will Gordon Brown's scorched earth policy see a short lived Conservative Party government?

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