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So how about recommending a suspension VAT for a bit???
by Robert Schmidt
June 24 (Bloomberg) — â€œThere has to be a risk that it will be a long, hard slogâ€ because of the problems in the banking system, King told lawmakers in London today. â€œI feel more uncertain now than ever. This is not the pattern of a recession coming into recovery that weâ€™ve seen since the 1930s. Having an open mind and not pretending to foresee the future when itâ€™s so uncertain is important.â€
King said that thereâ€™s â€œnot much evidence to change our viewâ€ since the bank released forecasts in May showing that the economy wonâ€™t return to growth on an annual basis until the second half of next year.