In a speech to a conference organized by the Confederation of British Industry, the main business lobby group, Brown will outline his belief that Britain needs to attract inward investment. “In our new growth strategy I want not just hundreds but thousands of Chinese companies in Britain, and British companies in China,” Brown will say, according to excerpts released in advance by his office. Britain is struggling with a major downturn despite attempts by the government and Bank of England to boost the economy, including holding interest rates at a record low of 0.5 percent since March, an unprecedented 175 billion pound ($290 billion) injection into the money supply and billions more through fiscal measures.
Brown will say in his speech that he does not expect to withdraw fiscal support soon. “Choking off recovery by turning off the life support for our economies prematurely would be fatal to British jobs and British growth for years,” he will say.
