Saturday, April 12, 2008
It’s different here
Britain will not follow America into a housing crash, the Chancellor of the Exchequer, Alistair Darling, predicted yesterday. Speaking to an audience in Washington before the G7 meeting, Mr Darling said that while the world was facing "the biggest economic shock since the Great Depression", the fundamentals of the British economy were "sound". There "were key differences between the UK and United States housing markets which mean that the UK housing market is unlikely to experience problems in the way that the property market in the US has been affected", he said.