U.K. announces $30 billion stimulus plan

The British government today announced a 20-billion-pound ($30 billion) stimulus plan to try to get the United Kingdom through its first recession in 17 years.
NOV 24, 2008
The British government today announced a 20-billion-pound ($30 billion) stimulus plan to try to get the United Kingdom through its first recession in 17 years. “I want to take fair and responsible steps to protect and support businesses and people now,” Alistair Darling, chancellor of the Exchequer, said in prepared remarks outlining the United Kingdom's pre-budget report. “My central objective is to respond to the consequences of this global recession on our country.” To help pay for the plan, the British government will raise the income tax rate for people who earn more than 150,000 pounds to 45% in the fiscal year starting in April 2011.

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