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The Credit Cruncher was conceived to help you to keep up to date with credit crunch and recession developments, it provides some helpful credit crunch advice and it addresses personal debt. The Credit Cruncher also seeks to explain how the credit crunch started and shed some light on the worldwide recession. Recently, we have begun to look at how BREXIT will affect the UK economy. Please feel free to leave comments where relevant.

16 Nov 2008

G20 seeks financial recovery

A number of measures will be tabled at the G20 summit in Washington which will hopefully serve to boost ailing economies world-wide. This will be centered around tax-cuts and public spending to boost regeneration.
Whether this type of tinkering with the economy can have a significant outcome remains to be seen, I am sure that the 'confidence trick' of being seen to be doing something, is as least as important as whatever 'something' ends up being done...
Certainly there is no doubt that the right sort of public spending can help to retain jobs and boost the economy, but I honestly don't see a small tax break as having any real effect.

Interesting to see China amongst other nations included at the summit, but puzzling that it centered around George W Bush when he is very much on his way out of office. Nevertheless Gordon Brown has taken his chance to raise his profile internationally.

Related posts:
Gordon Brown rescue plan
The Bush plan is approved
The Bush plan falters

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