Economics and Finance
- Created by: dxyz
- Created on: 18-05-15 15:53
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Major policy responses brought in under the Labour Government
Fiscal Stimulus
1. Decrease VAT from 17.5% to 15%
2. Introduced car and boiler scrapage schemes
3. Brought forward capital spending projects (Olympic Games related for example)
4. Bank bailouts – brought some banks (Lloyds and RBS) into Government ownership
Interest rates decreased from 5.5% to 0.5%
Bank…
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