While Britain has increased spending to aid its economy, along with subsequent exchange traded fund (ETF), credit agencies are beginning to voice concern over the country’s indebtedness.
Prime Minister Gordon Brown has increased borrowing to help their banking system and to goad the credit markets, and he has also cut taxes, reports Julia Werdigier for The New York Times.
On a positive note, Bank of England Monetary Policy Committee member Andrew Sentance said that the downturn is moderating, reports Reuters. While it’s too early to spot signs of economic recovery there or to predict the pace of such a recovery, the moderation is a positive signal.
But England still has big troubles to overcome.