What? Another rescue package? How many have we had so far? Is anyone keeping count? The Guardian reckons that it is just two, but it seems a lot more to me.
Alistair Darling has accepted that a second emergency package of tax and spending measures may be needed in this spring's budget to claw the economy out of a deepening recession, the Guardian has learned. Despite the deterioration in the public finances, the chancellor is willing if necessary to borrow more money to help strategically important industries and to help lay the foundations for economic recovery. He will start work this week on plans for a British answer to Barack Obama's green jobs agenda.
The Guardian say that the new package will "Lay the foundations for economic recovery" I call it building up a massive mountain of public sector debt.
Monday, January 26, 2009
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