Britain Announces Stimulus Package of £20 billion
London, Tuesday, November 25, 2008 ARANCA News Report (www.aranca.com): Following in the footsteps of China, Japan and Australia, Britain announced a huge stimulus package to boost consumer spending in an attempt to stave off a deep and potentially painful recession.
As part of the £20 billion ($30 billion) fiscal stimulus package, the government aims to cut taxes, increase spending on public projects like infrastructure, and provide help to homeowners battered by high mortgage rates. Plans to provide finance to small businesses and retirees were also part of the package.
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