Alistair Darling, the British Minister of Finance, has unfolded a plan Monday to protect the economy through a package of measures to GBP20 billion.
The money should be used to reduce taxes and spending in an effort to stimulate economic shrinkage to a limit.
Darling, who indicated that the package about 1% of gross domestic product (GDP) is worth, announced in addition to VAT reduction to 15% from 17.5%. The reduction applies from December 1, 2008 until the end of 2009.
"In this extraordinary economic circumstances, I would like reasonable and responsible steps to both companies and people to protect," said Darling.
Darling was to be expected that the economy in 2008 is growing by 0.75%, but declining by 0.75% to 1.25% in 2009 and by 2.0% to 2.5% in 2009.
The money should be used to reduce taxes and spending in an effort to stimulate economic shrinkage to a limit.
Darling, who indicated that the package about 1% of gross domestic product (GDP) is worth, announced in addition to VAT reduction to 15% from 17.5%. The reduction applies from December 1, 2008 until the end of 2009.
"In this extraordinary economic circumstances, I would like reasonable and responsible steps to both companies and people to protect," said Darling.
Darling was to be expected that the economy in 2008 is growing by 0.75%, but declining by 0.75% to 1.25% in 2009 and by 2.0% to 2.5% in 2009.
No comments:
Post a Comment