28-11-2011, 06:19
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#1
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Still alive and fighting
Join Date: Jun 2007
Location: In the land of beyond and beyond.
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Posts: 56,708
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George Osborne's £5bn gamble to stave off recession
http://www.guardian.co.uk/uk/2011/no...tumn-statement
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An extra £5bn of capital investment, funded by spending cuts elsewhere, will form the centrepiece of an overall £30bn national infrastructure programme due to be announced by George Osborne on Tuesday as part of an attempt to prevent the country from sliding back into recession.
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He is also expected to announce a deal designed to unlock £40bn of bank lending for small businesses in which the government will underwrite the lending.
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Speaking on the BBC's Andrew Marr Show, Osborne admitted the OBR forecasts would be downgraded, saying: "This is an exceptionally difficult time. We have a slowing economy, a slowing world economy, we have this financial crisis brewing in Europe."
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“The only lesson you can learn from history is that it repeats itself”
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