Clarke links low inflation to growth without tears

Article Abstract:

UK Chancellor of the Exchequer Kenneth Clarke told his Mansion House audience that he would base his decisions on commerce generating prosperity. Economic policy would aim to keep inflation below 4%, to improve public finances and to sustain the recovery. Inflation is socially destructive but in 1993 it is at a 30-year low. This helps towards growth, employment and a better standard of living. Government debt interest payments must be reduced by increasing taxes and restricting public spending.

Economic aspects, Inflation (Finance), Inflation (Economics)

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Tax and spending policies 'aim to make Britain the enterprise centre of Europe.' (chancellor Kenneth Clarke delivers 1995 Budget)(Budget special)(Transcript)

Article Abstract:

The UK economy expanded by around 4% in 1994, with particular progress being made by exporters, according to chancellor Kenneth Clarke. It is set to expand by a further 2.75% in 1995 and by 3% in 1996. Economic recovery over recent years has created more than 500,000 jobs, and inflation is at very low levels. Public finances are under control, with the Public Sector Borrowing Requirement (PSBR) set to be 29 billion pounds sterling in the current financial year.

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'This virtuous Budget will bring rich rewards for all.' (UK chancellor Kenneth Clarke's 1996 Budget speech)(Budget special)(Transcript)

Article Abstract:

The UK government's 1996 Budget will serve to add further impetus to the growth which the country's economy is already experiencing, according to chancellor Kenneth Clarke. There has been a strong revival in consumer confidence recently, and it has been possible to achieve economic growth while ensuring that inflation remains low. The 1996 Budget makes further reductions in public spending, but also provides more funding for priority services.

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