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Brown still at mercy of events



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Published Date: 18 November 2008
GORDON Brown wants us to be reassured by the "emerging consensus" on how to deal with the global economic downturn. For many British families, however, international agreement has not come quickly enough.
In taking steps to reach an accord with the leaders of other major Western economies, Mr Brown has recognised that this unprecedented financial crisis demands action on a grand scale.

More needs to be done to help ordinary people in the UK, though
. While the banking bailout here and in the US, as well as the co-ordinated interest rate cuts in several countries, ensured our financial system did not collapse, these measures have yet to create real change for the small businessman, the shop worker or the homeowner with a mortgage to pay off.

Yesterday's announcement by banking giant Citigroup that it is to shed 52,000 jobs, with the losses being felt "particularly heavily"
in London, was a harsh reminder of the problems faced by politicians. For all Mr Brown's good intentions and international action plans, he remains at the mercy of events.

Mr Brown tried to make a virtue out of the fact he was forced into acting with other world leaders, but now he must refocus domestically. Next week's pre-Budget Report, ostensibly created by Alistair Darling, the Chancellor, but with the Prime Minister's hand no doubt behind it, is the ideal place to start.

Voters, including those who have just lost their job or who have the axe hanging over their heads, will be looking for tax cuts to ease the financial pressures they face. They will also want to see detailed proposals on the Government's plan to spend more on public works to stimulate the economy.

With a series of hints on the contents of the pre-Budget Report, Mr Brown has created an air of anticipation among hard-up families. They will not forgive him if he fails to deliver the help they need.



The full article contains 345 words and appears in n/a newspaper.
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  • Last Updated: 18 November 2008 9:26 AM
  • Source: n/a
  • Location: Yorkshire
 
 

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