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Will let you beg for food
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793 Posts
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http://news.uk.msn.com/Article.aspx?cp-documentid=10308803

The Prime Minister admitted on Wednesday that the financial crisis was "likely to cause recession" in the UK.

At Commons question time, Mr Brown announced new measures to help hard-pressed homeowners stave off repossession of their homes.

Tory leader David Cameron accused him of having "racked-up" up debt during the boom years and getting the stewardship of the economy "wrong".

He repeatedly challenged the Prime Minister to admit that he had not, as he had previously claimed, abolished boom and bust.

But Mr Brown sidestepped the question and insisted it was "right" to stimulate economic activity by borrowing in a downturn.

"The reason we can afford to borrow is that we have low national debt," he told MPs.

Mr Brown has previously avoided using the r-word, recession, about the economic situation facing the country.

But after a gloomy speech by the Governor of the Bank of England Mervyn King last night, he finally used the word, to jeers from Tory MPs.

"The Governor of the Bank of England said last night that not since the first world war has the international banking system been so close to collapse and I agree with him.

"Having taken action on the banking system, we must now take action on the global financial recession which is likely to cause recession in America, France, Italy, Germany, Japan and - because no country can insulate itself from it - Britain too. That is why we are giving our undivided attention to helping families and businesses."
 

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Trump=WhiteObama=BlkBush
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10,176 Posts
What does g'tees mean?
 

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Trump=WhiteObama=BlkBush
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10,176 Posts
Ohhhhhhhhhhh
 

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Earthwalker.
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10,287 Posts
Its this guys fault that we are in this position in the first place,when he was chancerlor he propt up the ecomomy by borrowing and now it has come back to bite him in the arse.

This guy was never voted in by the people and the sooner he is gone the better.
 
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