Prime Minister Gordon Brown has suggested he will push expansionary fiscal policies to help boost the economy. Brown’s comments were the latest in a series from him and Chancellor Alistair Darling stressing the importance of boosting the economy, which shrank in the third quarter of 2008 for the first time in 16 years and is expected to contract more sharply next year.
The Labour Party may have won the Glenrothes by-election this week, partly on the back of the Prime Minister’s handling of the financial crisis, but Gordon Brown’s Scotland is predicted to suffer more than the rest of Britain during the economic downturn.
Only a few weeks ago the cartoons were showing Gordon Brown paddling up the proverbial creek without a paddle as his poll ratings slumped under an endless succession of bad news. The Tories were practically measuring up the curtains at No. 10.
They were widely accused of dithering earlier this week but Gordon Brown and Chancellor Alistair Darling have now finally caught up with events and have tried for the first time to overtake them by unveiling a 50-billion pound rescue package for the banks.