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George Osborne under attack for stating that the pound is under pressure

Shadow chancellor George Osborne is today under attack from Labour for suggesting that Gordon Brown's economic policies have caused the recent run on sterling. The situation bears strange similarities to Alistair Darling's comments about the collapse of the Icelandic economy although the problem is that the run on the pound is actually the fault of the UK government.

Gordon Brown has opened a potential political can of worms by suggesting that George Osborne's comments would place yet more pressure on the pound and affect the timing and strength of any recovery in the UK economy. By bringing the comments into the public domain Gordon Brown has now opened himself up to serious criticism and serious analysis of his ongoing rescue plan and rumoured £15 billion tax giveaway. There are many who now believe he has played into the hands of the Tory party and will see his economic frailties laid out to the world.

This could be the first mistake Gordon Brown has made over the last few months but it may be a mistake which will actually cost him dear. This week could be a make or break time for both George Osborne and Gordon Brown as they are both under serious pressure.

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