Britain will withstand recession, says Brown

News Article - 22 January 2008
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British business will overcome the current instable financial climate, according to Gordon Brown.

Following fears of a US recession and the biggest fall in stock markets recorded since September 11th, Mr Brown has claimed the turmoil is a US problem.

A spokesman for the prime minister commented: "Britain remains well placed to withstand this uncertainty in the global economy and of course we will have to remain vigilant."

"That is why we will take whatever action is necessary to maintain stability," he added.

The spokesman added that inflation remains at a healthy level and the UK is currently experiencing its 61st consecutive quarter of business growth.

However, research by the Confederation of British Industry has found that optimism in manufacturing business performance is at its lowest level for two years.

According to the study, productivity increased marginally over the last quarter, with 11 per cent of firms claiming total orders rose, compared to nine per cent in October.

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