by TT Editor
Will Britain come out of recession in 2009?
The Times reported this morning that industrial output failed to grow in October. This is a big blow to the Government. And to add to their woes a CBI survey suggested that gloomy manufacturers expect output to fall in the coming months.
Brown and Darling need to convince the Markets that they are serious about bringing down the 180 Billion deficit. Britain currently has a good ‘tripple A’ credit rating. However ratings agencies are warning that ‘plunging tax receipts’ caused by the recession would seriously damage our ability to pay back the 180 Billion.
This is bad because it would cause the price of borrowing to climb even higher for the Government. This could create a spiral of nastiness where borrowing prices climb, tax receipts nosedive, the pounds get a big kicking, Darling has to go begging to the IMF and the bins don’t get collected (think Zimbabwe without the heat).
Cast your predictions now for whether you think Britain will come out of recession in 2009.
Will Britain come out of recession in 2009?
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0.0% of the people predicted "Yes"
100.0% of the people predicted "No"Closing Date: December 29, 2009 | 1 point
What people are predicting (4):
