Monday, Nov 24, 2008
The economy will bounce back quickly from recession and start growing again second half of 2009
Telegraph: 'Economy will recover from recession by mid-2009'
He confirmed that from next week, Value Added Tax will be reduced from 17.5 per cent to 15 per cent, cutting £2.20 from every £100 of consumer spending. The VAT cut will last until the start of 2010, when ministers expect the economy to be recovering.
Mr Darling said the measure meant the Government was putting £12.5 billion into the economy.
However, some retail experts have questioned whether such a modest cut will be enough to stimulate consumer spending. Many big retailers are already cutting prices by as much as 20 per cent in order to lure customers back, with only limited success.
Posted by malct @ 06:05 PM (433 views) Add Comment
7 Comments
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1. malct said...
so it's a six month recession then?
2. jack c said...
malct said...so it's a six month recession then? - yes when you have your rose tinted spectacles on - when you take them off it looks more like 6 years to me.
3. digdug said...
Phew.. I thought this would have been nasty but apparently not.. back to sleep everybody!
4. malct said...
if you compare this article with the other one @ 6:08 :-
"Government borrowing is to soar and confirmed that the country will fall into recession next year"
a clockwork mouse could work outsomeones lost the plot - and not just Darling and Brown
The Telegraph actually printed this incongruous twaddle.
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