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UK stocks enjoy G20 impetus

The confirmation that G20 members will continue to run with the current economic stimulus programs in place was well received by the UK stock market today which extended the ongoing rally to 4 days. The 1.8% increase in the FTSE 100 index was welcomed by many investors who had been starting to flag a little as news on the UK economy appeared to turn downwards.

There has been concern that G20 members were looking to set the UK government and UK economy adrift and withdraw part or all of the ongoing economic stimulus programs. Despite the fact that the US, France, Germany and Japan have moved out of recession it would appear that the majority of G20 members are more than happy to continue with the ongoing fiscal stimulus programs.

This is a major plus point for the UK government which is literally running out of money and unable to support large-scale bailouts in the short to medium term. Estimates with regards to UK government debt range from £1 trillion to over £2 trillion, depending on how you account for bank bailouts, etc, but the truth is that the UK government is being squeezed from all sides with tax income significantly reduced and benefit payments moving higher and higher.

Any assistance from the G20 will obviously be gratefully received by the UK government!

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