With the Bank of England Governor Mervyn King speaking his mind on the government’s direction to introduce new fiscal stimulus plans to boost the economy, British Prime Minister Gordon Brown responded seemingly in the defensive.  King gave a statement on Tuesday, March 24, 2009 that the government should not give out any more fiscal stimulus since there is a growing budget deficit.  According to Brown’s spokesman, the fiscal stimulus is only one of the strategies the government is going to use to ... Read More

Call it the cold shoulder. Or frosty reception. In any case, seven English Councils are now being accused of “negligence” due to their previous acts involving depositing money into banks that went bust soon after. While the overall amount is a measly 3% of the total cash reserves of the council, at this stage of the economy, there is no such thing as small money. Besides, the amount is about 33 Million pounds and it is surely nothing to scoff at. The amount ... Read More