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Gordon Brown's Plans
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by: stickystebee
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In Britain today Gordon Brown has discussed his plans to weather the financial storm of the current recession. As inflation decreases, the price of fuel comes down and VAT reduces by 2.5 per cent, British people could argue that the cost of living has come down significantly although many are still seeking debt advice. The aim of which is to increase purchases and kick start the British economy back into action. However as Brown has said, it is not just the British economy that needs to act. We are all nodes within a global market and for any of these plans to work it needs to be done in conjunction with other countries. As he also pointed out, a lot of banks invest in foreign companies. This means Britain lends abroad into countries such as America, India, China to name a few, as do other foreign banks into our industries. Due to the recession this lending has slowed down, banks have generally become more cautious and the knock on effect is industries across the world are finding it hard to get inexpensive credit.
As we see more and more companies, closing sites down, going into administration we are entering a vicious cycle. With less people working there is less expendable money to go on the products countries make. With less goods being bought there are less jobs and so on. Part of the problem though is merely tied up in one word – confidence. As politicians have already said we didn't suddenly stop making products, we didn't all go bankrupt over night – although this may happen more as time goes by, but somewhere we have lost confidence. And again part of the problem of reporting the bad news of the recession is that it is reinforcing the fear of our current financial status.
Brown has highlighted that modern economics is a much more complex model, and that this current recession should be seen as the 'awkward pains of a new birth,' in economics. He knows his game, and strikes us as someone intensely sincere and best positioned to guide us through these dark times. Admittedly, this is possibly because he was Chancellor in charge in the build up to this fiscal trauma. I don't think it's fair to blame him entirely though, because as already mentioned this is a global situation, and it would be hard to imagine that one country, and especially one man could have this much impact on a global scale. I think we should all follow the old advice of keeping a stiff upper lip and look forward to brighter times. Having learned the lesson that unchecked risk, becomes dangerous risk.
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In Britain today Gordon Brown has discussed his plans to weather the financial storm of the current recession. As inflation decreases, the price of fuel comes down and VAT reduces by 2.5 per cent, British people could argue that the cost of living has come down significantly although many are still seeking debt advice.
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