Figures back robust recovery claims as growth climbs to 2pc

Some city analysts believe that the planned pounds 8 billion of tax increases in April will put the brake on growth, an argument supported by the shadow chancellor, Gordon Brown, who yesterday called on the Government to rescind the VAT levy on domestic fuel and power. One of the Government's m...

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Bibliographic Details
Published inThe Guardian (London)
Main Authors Larry Elliott, Ruth Kelly, Hunter, Teresa
Format Newspaper Article
LanguageEnglish
Published Manchester (UK) Guardian News & Media Limited 22.01.1994
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Summary:Some city analysts believe that the planned pounds 8 billion of tax increases in April will put the brake on growth, an argument supported by the shadow chancellor, Gordon Brown, who yesterday called on the Government to rescind the VAT levy on domestic fuel and power. One of the Government's measures of broad money, M4, - which includes bank and building society deposits as well as cash in circulation - grew by a seasonally-adjusted 0.7 per cent in December. A breakdown of the figures showed activity in the housing market tailed off in December, although mortgage business was still livelier than a year ago. Mortgage lending and pledges both fell last month, according to the Council of Mortgage Lenders.
ISSN:0261-3077