UK Recession Likely According to PM Gordon Brown

The global financial slowdown will likely result in a UK recession according to Prime Minister Gordon Brown.

Brown emphasized Britain’s recession would only be part of the global problem as America, France, Italy, Germany, Japan and other countries would feel the sting of the recent turbulence in the financial markets.

Despite the recent rescue plans for the struggling banking sector the economy has been hit hard by consumer fears in the UK and the rest of the world.

It is those fears that Brown has said the UK must now address “Having taken action on the banking system, we must now take action on the global financial recession.”

While Brown has said action has been taken to right the banking system there are those who have expressed fears that if that action fails to produce results it could result in a prolonged recession.

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