I have made my views about Gordon Brown clear in this space on numerous occasions but I do feel that he should be congratulated for his efforts to revive the British economy. The massive spending plan announced this week, is a gamble and if it goes wrong then Britain will be starring at economic ruin but if it goes right then the country will be able to avoid an economic depression. The stakes are high and I sincerely hope that the plan will work.
The Conservative policy of a spending freeze and a wait-and-see policy is not what is needed at the moment. The government has to be seen to be acting in the light of what could be economic meltdown. It is clear that once times improve tax and even VAT will rise. Spending cash in hard times to repay in the good times appears quite logical to me providing that the Chancellor has got his figures right. While the fall in the value of sterling may give heartache to people living on income from Britain it will also reduce the price of British exports to both mainland Europe and the U.S., key export markets. There isn´t much economic good news about at the moment but fingers crossed that Brown may pull off the biggest gamble in British economic history. If he doesn´t we are all going to pay for it.