Gordon Brown signalled that Britain would not announce a big fiscal stimulus in next month’s budget, as the failure of a gilts auction on Wednesday underscored concerns about the impact of further borrowing on the deteriorating public finances. His admission  that the UK had little room for a second wave of tax cuts or spending increases appeared to respond to pressure from Alistair Darling, his chancellor, and Mervyn King, Bank of England governor. See FT Alphaville on ‘swinging gilts’.

This entry was posted by Gwen Robinson on Thursday, March 26th, 2009 at 5:05 and is filed under Capital markets, People. Edit this entry.