'I will ensure every penny is well spent.' (United Kingdom Chancellor Gordon Brown)

Article Abstract:

The UK government is seeking to ensure stable levels of growth and employment, along with sustainable public services, according to Chancellor Gordon Brown. He is to make an additional 19 billion pounds sterling available for education in the period to 2002, with the National Health Service receiving an additional 21 billion pounds sterling. However, the growth in social security spending for the current Parliament will be substantially lower than in the last Parliament, and debt as a proportion of national income will decline to below 40%.

National Government Finance, Social policy, Public finance

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Inflation outlook raises the prospect of more rate cuts

Article Abstract:

The UK Treasury has been forced to revise downwards its predictions for economic growth in 1999 to between 1% and 1.5%. Chancellor Gordon Brown has admitted in his 1998 pre-Budget statement that a further weakening of the global economy could force a further downwards revision of UK growth predictions. He has predicted that the RIPX, the underlying rate of inflation targeted by the Bank of England, will fall below 2.5% early in 1999, but will return to its target level of 2.5% by the end of that year.

Economic Programs, Administration of Economic Programs, Prices, Economic aspects, Forecasts and trends, Inflation (Finance), Inflation (Economics)

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How deep are Brown's pockets?

Article Abstract:

The UK government's public relations experts are keen to present Chancellor Gordon Brown as being determined to keep public spending under strict control. However, some observers believe that Brown's spending plans are actually much more expansionary than those of previous Chancellors. It is estimated that he plans to increase government spending by 9% in real terms between 1998 and 2002, and most observers believe that his plans represent a loosening of fiscal policy over the medium term.

Fiscal Policy

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