Gordon Brown accused of over confidence in economic fightback
Gordon Brown has come in for some severe criticism today for his comments regarding George Osborne and the falling exchange rate. Many of the financial press seem to be turning against Gordon Brown as his policy of do as I say not what I do seems to be coming more and more to the fore. Many newspapers are reminding UK readers that we live in a democracy where comments, criticism and praise can be suggested even in political circles.
Gordon Brown is also accused of hypocrisy as when Alistair Darling suggested that the UK economy was to encounter a serious setback there was no rebuttal from Mr Brown yet when George Osborne dares to suggest the Labour economic policy is not working, he stands accused of sabotage. The truth is that while markets do move on sentiment and comments from those in high political circles the underlying fundamentals are the main reason why any market moves.
After building up something of a head of steam over the last few weeks there are some who are concerned that a period of consolidation is required for the UK government in order to let the situation settle down.
Share this..
Related stories
Why is the price of gold rising?
As we covered yesterday, the price of gold has now moved to well over $1000 which is an all-time high for the precious metal. It would appear that various factors have come into play to push the gold price to these levels, which is a culmination of an upward trend which has now lasted a total of eight years. So what exactly is pushing the price of gold higher and higher?
A general w...
UK government lends £10 million for development of electric car
The UK government has finally paid out a tiny fraction of its £2.3 billion aid package for the car industry with a £10 million loan to Tata Motors to assist in the production of an electric car in the UK. The company will complement the UK government's £10 million loan with a £25 million investment of its own which is set to create hundreds of jobs over the coming years.
While i...
Where did all the climate change money go?
The United Nations has revealed that despite the fact that 20 nations pledged $410 million a year back in 2001, to be used by developing countries to tackle climate change, there is only $260 million available today despite the fact the fund should be worth in excess of $1.6 billion. There is concern as to whether all obligations signed by the 20 nations back in 2001 have been fulfilled or whether...
Read MoreRates left on hold
The Bank of England has left interest rates on hold at 5.75 per cent, despite the release of weak economic data this week. Economists had said that the emergence of figures showing a slump in manufacturing production and retail sales meant that a rate cut could be on the cards, with monetary policymakers under growing pressure to take action to reduce the risk of a sharp economic downturn. There a...
Read MoreGordon Brown promises to bailout PFI schemes
In hindsight it seems as though many of Gordon Brown's previous promises over last 18 months are set to come back and haunt him. Throughout this period the Prime Minister has been adamant that he was looking to not only continue with public funded projects such as school building, motorways and other such building works, but actually increase the rate at which they are to be brought online. While...
Read More