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Does the UK government have a credible economic plan for the future?

As more and more business leaders step forward to criticise the UK government about proposed tax rises in the short to medium term, as opposed to investment spending cuts, there is concern that the UK authorities do not have a credible economic plan going forward. This is an accusation which has been thrown at the Labour government on a number of occasions over the last few months and has indeed led to a significant run on sterling. So does Gordon Brown have a credible economic plan for recovery?

While there is no doubt there will be a plan behind-the-scenes, at this moment in time Gordon Brown is more interested in spending more taxpayer's money on the UK economy in an attempt to form a base for future growth. Whether he will pay the price in the short term regarding non-disclosure of a credible economic recovery plan remains to be seen but one thing is for sure, sterling will remain under pressure until investors see a way forward.

We should also remember that the Conservative party lead in the polls has reduced significantly over the last few weeks and indeed the prospect of a hung parliament hovers over UK investment markets.

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