Economic Heart Attack
March 13, 2010 3:55 PM
Vince Cable MP
Liberal Democrat Treasury Spokesman, Vince Cable MP, told business leaders in Hampshire that Britain's economic recovery was fragile and has warned against cutting public spending too soon.
The highly respected MP was guest of honour and main speaker at a business conference organised by Hampshire Liberal Democrats, held at the Intech Centre, Winchester this week.
Vince told the audience that Britain had suffered the "economic equivalent of a massive heart attack" in the past couple of years. He added that the economy was still in intensive care "despite the remarkable economic medicine" such as cuts in interest rates to zero, quantitative easing (the creation of more money) and a huge government deficit.
To large applause, he said it was outrageous that banks that had been bailed out using public money were paying massive bonuses to banking chiefs. He added that there is a need for reform of public sector pensions.
The event was deemed a great success. Conference organiser Cllr. Chris Thomas said "I was greatly encouraged by the turn-out and level of interest shown in the variety of speakers we had".
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