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Is the UK economy at the mercy of overseas central banks?

It is no secret that Gordon Brown has been touring the world over the last few months to try and bring together various governments and central banks to refloat the worldwide economy. As the UK government debt moves towards the £1 trillion level there is a feeling that the UK has limited funding available to make any real difference in the short term. In many ways the plight of the UK is linked very closely to that of the US and its European partners who appear to be less affected than the UK.

A recovery in the likes of the US and Europe would soon filtered through to UK businesses which has very strong trading links with these overseas partners. While any improvements in the UK would probably benefit the US and Europe as a whole many people now believe that the best chance of the UK avoiding a recession is a recovery in other markets. This leaves the UK somewhat exposed and with taxes set to rise over the next two or three years there is a serious risk that the cost of living in the country will move substantially higher.

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