Brown Admits Inflating Debt Bubble
Seems like Gordon has finally relented and allowed the truth to be known on this one! Incredible really as just a few days ago he was claiming Britain had the strongest economy in years!
In a statement today, the Chancellor admitted that he had “put pressure” on the Monetary Policy Committee to keep interest rates artificially low in order to maintain his popularity as chancellor. Gordon Brown, who delivered his 11th budget speech recently, said that this was the only way to avoid sending the country into recession and causing precipitous falls in asset markets, including housing. The plan was to “fuel consumer spending”, Mr Brown said, with low interest rates encouraging people to “flock to the high streets of Britain in order to save the economy”.
Nice one Gordon! Get us all into massive amounts of debt, the likes of which have never been seen before, then run off to become Prime Minister just before the real pain starts to hit! Brilliant idea.
“I have now realised that while this plan was successful in the short term, it could lead to greater problems further down the line as debt increases. I will now make it my mission as Chancellor and perhaps soon Prime Minister to address this problem and get Britain back to its once great status as a stable thriving economy built on sustainable and sound fundamentals.”
Good luck Gordon. Because if the results of this come about soon, you won’t be spending much more time in Downing Street!
Update: April fool!
