Liberal Democrats in Business

News and views from the Lib Dem Treasury, Trade and Industry Teams and the Liberal Democrat Business Forum

Britain Needs To Earn A Living Before House Bubble Bursts

12.00.00am GMT Tue 4th Mar 2003

Matthew Taylor MP, Liberal Democrat Shadow Chancellor, responding to fears expressed by the IMF about imbalances in the British economy and this morning's house price figures, said:

"House prices and borrowing cannot rise forever."

"Britain needs to earn its living and the Chancellor needs to help manufacturing before the house price bubble bursts."

"Manufacturing output and business investment are falling faster in Britain than in any of our major competitors. The fall in investment is more sustained and damaging than during previous recessions."

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[Previous news story]: Time To Tap Strategic Oil Reserves (Mon 3rd Mar 2003).
[Next news story]: Interest Rates: Budget Will Be Make Or Break For Brown (Thu 6th Mar 2003).

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