Clarke Warns Risk Of Double-Dip Remains
2:00pm UK, Sunday October 03, 2010
David Cameron has insisted he anticipates the British economy to grow after the Justice Minister warned a “double-dip” recession remains a possibility.
Kenneth Clarke is currently Justice Secretary but used to be Chancellor
Ken Clarke, a former Conservative chancellor, stated a “fresh wave of global fear and crisis” could plunge the UK back into difficulty.
“I’m at the more pessimistic end,” he told The Observer. “I’m not sunnily optimistic about where the Western economy is going.”
On the first day of the Conservative Party conference in Birmingham, he stated the chances of another recession remained “below 50%”.
However the risk of a “double-dip” could not be ruled out, he added.
But the Prime Minister has suggested Mr Clarke was speaking generally about the “fragility” of many Western economies and the coalition has helped get the UK back on track.
“We’ve taken Britain out of that danger zone,” he told the BBC.
“I look at the forecasts… they forecast growth for the British economy but it will be a choppy period,” he added.
Mr Cameron has argued that slashing spending will not mean the economy will slow.
The Government believes reforming the public services will make them more efficient and tackling the budget deficit will reassure investors.
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Submited at Monday, October 4th, 2010 at 12:00 am on Business by nuterman
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