The worst of the recession may be yet to come and world leaders are in danger of hampering the recovery, Gordon Brown will say today. As he begins a week of meetings with world leaders, the Prime Minister will strike an unexpectedly gloomy note about the prospects of an upturn and will demand that fellow heads of government "sound a second-wake up call for the world economy". Soaring oil prices, rising 75 per cent this year, protectionist measures contributing to a 10 per cent drop in trade and the failure of banks to start lending again could all put the recovery at risk, according to Downing Street. The remarks are a departure from Mr Brown's usual rhetoric. His forecast that the British economy will emerge from recession by the end of the year is expected to form the basis of Labour's general election campaign. Downing Street sources denied that the remarks were a change, saying that he had not spoken about the international economy for a while.
As he begins a week of meetings with world leaders, the Prime Minister will strike an unexpectedly gloomy note about the prospects of an upturn and will demand that fellow heads of government "sound a second-wake up call for the world economy".
Soaring oil prices, rising 75 per cent this year, protectionist measures contributing to a 10 per cent drop in trade and the failure of banks to start lending again could all put the recovery at risk, according to Downing Street.
The remarks are a departure from Mr Brown's usual rhetoric. His forecast that the British economy will emerge from recession by the end of the year is expected to form the basis of Labour's general election campaign. Downing Street sources denied that the remarks were a change, saying that he had not spoken about the international economy for a while.
The worst of the UK's recession is over, according to the British Chambers of Commerce (BCC) business group, but talk of a recovery is premature.Its report, based on a survey of 5,600 companies, found there had been "welcome progress" in confidence levels between April and June. But the BCC is still predicting that unemployment will reach 3.2 million by the middle of 2010. It warned that the increase in confidence was fragile.
The worst of the UK's recession is over, according to the British Chambers of Commerce (BCC) business group, but talk of a recovery is premature.
Its report, based on a survey of 5,600 companies, found there had been "welcome progress" in confidence levels between April and June.
But the BCC is still predicting that unemployment will reach 3.2 million by the middle of 2010.
It warned that the increase in confidence was fragile.
It's good to see 'confidence' standing in for GDP. And in fact...
"Our economy is based on confidence, and wealth-creating businesses need to know they will be given the freedom and flexibility to drive the UK out of recession and into a sustainable recovery." He added that the proposed increase in National Insurance contributions in 2011 was a "tax on jobs" which should be scrapped. He also called for banks to continue lending and said that businesses expect the government to sort out "the appalling state of the public finances".
He added that the proposed increase in National Insurance contributions in 2011 was a "tax on jobs" which should be scrapped.
He also called for banks to continue lending and said that businesses expect the government to sort out "the appalling state of the public finances".
"Our economy is based on confidence"
"...wealth-creating businesses need to know they will be given the freedom and flexibility to drive the UK out of recession and into a sustainable recovery."
