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Brown declares he is best person to lead recovery

Prime Minister Gordon Brown has claimed he is the best person to lead the UK recovery and revealed the 2010 Budget will take place on March 24.

Speaking at Reuters in London this morning, Brown announced the last Budget of this Government will take place in two weeks.

Brown said the UK has weathered a financial “storm” over the last two years and said he is the best person to lead the continued recovery after the general election.

He said: “We are at a turning point, a crossroads, for our domestic economic recovery.

“We face crucial decisions. The stakes are high. We dare not risk the recovery. We are weathering the storm and now is no time to turn back. We will hold to our course and will complete our mission.”

Brown also hinted at future banking regulation and said banks must hold more capital as well as ‘living wills’. He said: “I want Britain to have the highest standards of supervision.

“I was pushing from 1997 for a global level of supervision where the interconnectedness would be reflected. But we could never get the co-operation that was necessary, so it was hardly surprising AAA sub-prime mortgage assets were taken at face value over here.

“If you cannot co-operate globally in a global world, you will pay a very high price.”

Brown also said he was “determined” to half the UK deficit over the next four years. He said: “People should know we have a clear idea of what we are going to do about debt and we will maintain our AAA rating. I don’t give running commentaries on rumours and forecasts that come from debt rating agencies but we are taking on the most ambitious debt reduction plans of any G7 country.”

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Comments

There are 14 comments at the moment, we would love to hear your opinion too.

  1. As long as we actually do recover soon I would vote for anybody.

  2. Looking at his track record–selling our gold reserves at bottom, ruining the retirement plans for millions etc etc I wonder who he sees in his mirror when he gets up to think he can lead this country out of the mess he created

  3. Well the only thing that might suggest Brown is the best man to lead us out of it is that he led us into it in the first place! Oh, and spent the savings whilst he was at it! What arrogance from a man who has made so many errors over such a long period that he should have been ousted long before now. How on earth can we even contemplate this man remaining at the helm?!

  4. DELUDED !!!!!

  5. Hello Great British Public. My name is Gordon. With lots of hard work and good planning I managed to get you into the pile of poo that the economy now has become – so trust me, with more effort of the same sort, I work work wonders and get us all out of this mess I created . . . . . Yeah Right . . . . . good old proverb runs something like “If you want the same thing to keep happening, keep doing the same things ! ! !” . . . . so – if you want even more mess in the economy – vote for ME ! ! ! Gordon ! ! ! !

  6. This really gave me a good laugh. The man is out there floating in the ether.

    My wife suspects he is insane and I now have to agree

  7. Is this what is now meant by self-declaration?

    It’s hard not to conclude that the guy is mad.

  8. HISTORY

    FACT: Gordon Brown inherited one of the best private pension savings systems in the world. Britain had more pension savings than the rest of Europe combined. We also appeared to have long-term state pension costs under control, despite our ageing population.

    FACT: Now more than half of pensioners now rely on means-tested benefits – up from 39 per cent in 1997. Since 1997 Britain’s savings ratio – including pensions savings – has halved, to 5 per cent.

    FACT: Since 1997 the once-thriving company pension system has crumbled. Most traditional final salary schemes have now closed.

    FACT: Brown abolished dividend tax relief for pension funds. This single policy has so far cost our pension schemes tens of billions of pounds.

    FACT: Over 100,000 people have lost most or all of their final salary pensions, when their FSA declared “safe” schemes were wound up.

    FACT: The FSA advised these scheme members that they were guaranteed.

    FACT: Brown has refused to provide sufficient money to remedy this gross injustice, despite being told to do so by Parliamentary Ombudsman and the Public Administration Select Committee.

    FACT: Brown sold 395 tonnes of our gold reserves into a rising market. It has lost £175m. It has also lost more money by investing a large proportion of the $3.3bn proceeds as a support operation for the euro. Some saw this as a method of entry into the Euro by stealth! The value of gold rose by £40 an ounce since the government’s selling started. (FT 6/3/02) Since the auctions, the value of gold has trebled, leaving the Treasury with a £2bn loss on the deal.

    FACT: Stakeholder Pension schemes, introduced in 2002 were aimed to help those on moderate incomes to gain access to simple – and cheap – pension products. Distribution costs were stripped out of the schemes and when this was pointed out to New Labour their solution was that the target market would pay fees in order to be sold the scheme! This was as daft as Marie-Antoinette (1755-93), who said when told that the French populace had no bread to eat, that they should eat cake!

    FACT: The financial services industry spent billions of pounds setting up these schemes. But given the loss of confidence in pensions – and the disincentives caused by the Chancellor’s means testing and the removal of any commission incentive to sell these plans you would not be surprised to hear the “target group” has not bought them.

    FACT: The Treasury’s latest pensions initiative – “simplification” – has been a fiasco. The book of new regulations is thicker than the old one.

    FACT: Brown keeps changing the rules, pension planning is almost impossible to advise on without fear of retrospective sanction by the FSA, Browns child. Remember the last-minute U-turn on allowing residential property in self-invested personal pensions? Or the recent change of mind on forcing annuitisation over the age of 75?

    37% voted for Labour – no one voted for Brown!

  9. I wouldn’t vote for Brown under any circumstances but I wish there was an alternative that gave me any confidence. Is this the best we can do?

  10. Unhappy though I am with him I’d trust Gordon Brown with our economic future before I would Cameron/Osborne who when they have made their views known have have called the wrong shots.

    I mean, how much worse would our economy have been if panic had turned to disaster and Northern Rock had been allowed to go bust as the Tories demanded.

    Without Q.E. we’d be in the deepest recession in memory but again this is what the Tories wanted.

    I’m also happy that Brown/Darling has made halving the deficit a legal obligation rather than setting up some advisory committee as the Tories want.

  11. Richard Jenkinson 11th March 2010 at 9:23 am

    Considering his woeful efforts to date, what a pathetic comment to make. Where was he while the financial crisis was looming ? Overseeing things as Chancellor ! Anyone with respect for the people in this country would have fallen on their sword long ago. However he comes across as stubborn, blinkered, out of touch with reality, totally out of his depth, and lacks the balls to say so and resign, as that would take some depth of character.

  12. Ged O'Neil Bell 11th March 2010 at 11:49 am

    Its a bit like Gary Glitter saying he’s the best man to look after your kids.

  13. cameron worse than brown, he is a tony blair clone whose wife dresses him, i suppose its like being given the choice about who is going to have relationships with you in prison, Bubba or Steve, either way we are going to end up with a sore bottom

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