UK’s Brown warns of new economic woes
LONDON – British Prime Minister Gordon Brown warns that the UK may suffer another economic downturn, including a possible dip back into recession.
In a speech on Wednesday Brown will say “there are still substantial risks ahead, there will be bumps in the road,” according to excerpts released in advance.
Brown will insist that because of such risks he’ll stick to a policy of holding off public spending cuts until economic growth and jobs are secured.
Some economists believe growth figures due to be released next month may show Britain’s economy has contracted once again, just six months after emerging from recession.
Such data could thwart Brown’s chances of winning a national election, which must be held by June 3.
Posted: March 10th, 2010 under Breaking News.