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LONDON - NOVEMBER 24: Albert Ram, a salesman at Ask electrical retailers on Tottenham Court Road, cleans the screens of televisions showing the Chancellor of the Exchequer, Alistair Darling, live in Parliament delivering his Pre-Budget Report on November 24, 2008 in London, England. The Chancellor delivered a number of tax cutting measures including the lowering of VAT on goods and services.
LONDON - NOVEMBER 24: Stephen Timms, the Financial Secretary, Yvette Cooper, the Chief Secretary, Alistair Darling, the Chancellor of the Exchequer, Paul Myners, the Financial Services Secretary, Angela Eagle, the Exchequer Secretary and Ian Pearson, the Economic Secretary head to Parliament to deliver the Pre-Budget Report on November 24, 2008 in London, England. The Chancellor is expected to announce tax cutting measures when he speaks to Parliament later.
British Finance Minister Alistair Darling (L) leads his Treasury team down the steps of the Treasury in London, on November 24, 2008, as he prepares to present the pre-budget report to the House of Commons. British Prime Minister Gordon Brown and opposition leader David Cameron presented rival plans to counter looming recession Monday to business leaders seeking urgent help. Speaking at the Confederation of British Industry's (CBI) annual conference, the pair put forth contrasting visions, with Brown advocating fiscal stimulus while Cameron called for what he described as "monetary activism."
LONDON - NOVEMBER 24: The Chancellor of The Exchequer Alistair Darling (3L) leaves the treasury for Parliament with (L-R) Stephen Timms - Financial Secretary, Yvette Cooper - Chief Secretary, Ian Pearson - Economic Secretary and Angela Eagle - Exchequer Secretary on November 24, 2008 in London. The Chancellor is expected to announce tax cutting measures when he speaks to Parliament later.
LONDON - NOVEMBER 24: The Chancellor of The Exchequer Alistair Darling (2L) leaves the treasury for Parliament with (L-R) Stephen Timms - Financial Secretary, Yvette Cooper - Chief Secretary, Ian Pearson - Economic Secretary and Angela Eagle - Exchequer Secretary on November 24, 2008 in London. The Chancellor is expected to announce tax cutting measures when he speaks to Parliament later.
British Finance Minister Alistair Darling (R) walks past members of the media in London, on November 24, 2008, as he prepares to present the pre-budget report to the House of Commons. British Prime Minister Gordon Brown and opposition leader David Cameron presented rival plans to counter looming recession Monday to business leaders seeking urgent help. Speaking at the Confederation of British Industry's (CBI) annual conference, the pair put forth contrasting visions, with Brown advocating fiscal stimulus while Cameron called for what he described as "monetary activism."
British Finance Minister Alistair Darling (R) walks past members of the media in London, on November 24, 2008, as he prepares to present the pre-budget report to the House of Commons. British Prime Minister Gordon Brown and opposition leader David Cameron presented rival plans to counter looming recession Monday to business leaders seeking urgent help. Speaking at the Confederation of British Industry's (CBI) annual conference, the pair put forth contrasting visions, with Brown advocating fiscal stimulus while Cameron called for what he described as "monetary activism."
Britain's Chancellor Alistair Darling (R) holds a copy of his Pre-Budget Report during a meeting with Chief Secretary to the Treasury Yvette Cooper in his office at the Treasury in London, November 23, 2008. British Prime Minister Gordon Brown defended his plan on Sunday to inject billions of pounds of borrowed money into the economy to try to stave off a deep recession, saying failure to act could cause permanent damage.
Britain's Finance Minister Alistair Darling arrives at Downing Street on November 7, 2008. The Bank of England on Thursday November 6, 2008, slashed its key lending rate by a record 1.5 percentage points to 3.0 percent, the lowest level in more than half a century and a sign, according to analysts, of a deep recession ahead. The European Central Bank, the Swiss National Bank and the Danish central bank meanwhile each reduced their borrowing costs by half a percentage point in anticipation of a global recession and sharp falls to inflation as oil and food prices plummet.
Britain's Chancellor Alistair Darling (L) talks to Home Secretary Jacqui Smith as Prime Minister Gordon Brown (not pictured) chairs a Cabinet meeting at 10 Downing Street, in London, on October 14, 2008. The London stock market rallied 4.65 percent to 4,454.82 points in initial trading Tuesday as investors continued to cheer global government action aimed at rescuing banks crippled by the credit crunch.
IMF Managing Director Dominique Strauss-Kahn (2nd L) chats with French Finance Minister Christine Lagarde (R) and European Central Bank Finance Minister Jean-Claude Juncker (R rear) as British Chancellor of the Exchequer Alistair Darling (L) looks on before a statement by US President George W. Bush with G7 finance ministers and heads of international financial institutions October 11, 2008 in the Rose Garden of the White House in Washington, DC.