Abstracts » Retail industry

City wary of another rise in rates

Article Abstract:

Economists in the City of London have reacted cautiously to plans by UK Chancellor Gordon Brown to boost spending by more than 55 billion pounds sterling in the period to 2002. They believe that large rises in government spending could prompt the Bank of England's Monetary Policy Committee to raise interest rates again. Brown has emphasized that overall spending will remain within the expenditure limits set out by the Treasury in Jun 1998. Health and education will receive an additional 40 billion pounds sterling, while funding for defence, agriculture and the Cabinet Office will be cut.

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The economy will put the Blair-Brown alliance to the test

Article Abstract:

UK Chancellor Gordon Brown's forthcoming pre-Budget statement will give an insight into how his intellectual split with Prime Minister Tony Blair over public spending will influence the 2002 spending round. Brown is more cautious than Blair with regard to investing heavily in public services, and he places more emphasis on tax credits.

United Kingdom, Government expenditures, Politics NEC, Column, Blair, Tony, Politics

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Brown: Slowdown will not force us to cut spending

Article Abstract:

The decline in the world economy will not stop the UK government going ahead with its plans to invest heavily in education and health, according to Chancellor Gordon Brown. However, he has emphasized that the uncertain economic climate makes financial discipline even more important.

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