UK anti-recession plan

Gordon Brown announced on the 14th of November an anti-recession plan, strategically based on tax cuts for low income families and further slashes on interest rates. By this mean, the Prime Minister intends to lead Britain out of this econmical downturn.

As suggested by the plan, the Prime Minister suggests that the government would use tax credits to help low income families as they represent the goup of people most likelty to spend any money handed out.

Further, Mr. Brown criticized the late rection of the Bank of England and the Eurpean central Bank in cutting interest rates, compared to the Fed's immediate cut to 1%. In fact, during the G20 economic summit, Brown underlined UK's intentions to reinforce interest rates cuts with a fiscal stimulus, funded by borrowing in order to bailout the country.

Nevertheless, we will have to wait for Chancellor Alistair Darling to unveal tax cuts or spending rises in his pre-Budget report on the 24 November.