UK cash plan set to anger the entire EC
Article Abstract:
EC foreign, economy and finance ministers met in Brussels to prepare for the Edinburgh summit in Dec 1992. The British government plans to continue the current EC revenue until 1995 and then increase it until 1999. The cohesion fund to help the poorer states would increase from an annual 6.4 billion pounds sterling between 1988-92 to 12.6 billion between 1993-9. The poorer states will find this insufficient as it is based on a rolling average. The richer countries dislike the UK retaining its 1980 rebate.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1992
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Jobs crisis swells call for rate cut
Article Abstract:
The number of unemployed rose to 2,973,500 in Dec 1992 with the highest increase -60,800- for 18 months. The workforce consists of 10.5% unemployed, the highest since Feb 1987. Manufacturing output fell. Economic advisers recommend lowering interest rates. A new Cabinet committee has met to examine the success of schemes to aid the unemployed. The British Chambers of Commerce found business confidence greatly increased because of strong export sales and improvement in house sales.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1993
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