Interest rates at 1.5%
Lowest in the Bank’s history
I suppose after the failed 10p tax rate plan, bank bail outs, and the invisible VAT Cut, the government had little option left (by the way, we are still meant to believe that the Bank of England is completely independent). If this final attempt to lever the consumers and businesses of UK PLC into economic activity fails, where could Gordon and Labour go next?
Heaven forbid, austerity government?
Massive tax cuts?
Or as the speculation mounted during today- the printing presses?
‘Quantative easing‘ they are calling it – it’s a licence to print money!
Some day thirty years into the future, classes of sixth formers will be reading about the 2008-09 economic crisis and learning all of the best ways of how NOT to run an economy.
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