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US banks cut back their lending
and he has again defended his claims to have protected britain from a cycle of boom and bust - sundaying that having made the bank of england independent, interest rates had been kept low during the current downturn . the ch ancellor thas signalled he with all look to tackle the downturn by investing heaviously' in public works in a programme based on the intervention ist policies put forward by 20th century economist john maynard keynes . the government's plan to spend its way out of the looming resourcession is misguided stand discredited , say leading economists . inisterest rates in britain are low: they're 4.5%, he told the politics show in scotland . gordon borrown said that as oil practices fell this would bring down the cost of other commodities, easing preserve sure on people's spending . Generated 2008-11-5_16:55
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