Friday, 6 February 2009

Sarkozy Slams Brown's VAT Cut & Economic "Mistakes"

Nicolas Sarkozy has become the latest world leader to condemn Gordon Brown’s decision to reduce VAT in an attempt to tackle the recession. The French President said Brown’s VAT cut had “absolutely not worked” and stressed he would not repeat Britain’s economic “mistakes”.

M. Sarkozy joins a host of high-profile figures who have condemned Brown’s economic policy, including the Chief Economist of the IMF, the Finance Minister of Germany, the Prime Minister of Luxembourg, and the CEOs of Sainsbury’s and Marks and Spencers.

George Osborne, the Shadow Chancellor, stressed,
“We said at the time that Brown’s flagship VAT cut would only make things worse and would be an expensive failure. That view is now echoed not just by British retailers, but by foreign governments, including France, Germany and Holland.

“Gordon Brown claims to have saved the world. It would appear that world leaders increasingly disagree.”

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