Europe South Asia Asia Pacific Americas Middle East Africa BBC Homepage World Service Education

Front Page



UK Politics







Talking Point

In Depth

On Air

Low Graphics

Sunday, September 26, 1999 Published at 16:39 GMT 17:39 UK

Business: The Economy

Brown aims for jobs for all

Chancellor Brown: full employment comes before a spending spree

Chancellor of the Exchequer Gordon Brown aims for jobs for all in the next decade.

"My aim for the next decade for Britain is nothing less than full employment in the next century," Chancellor Brown said in an interview with the Observer newspaper.

But he says this hinges on the government not giving in to demands for extra spending and large pay increases.

"Irresponsibility on pay will lead directly to higher interest rates and fewer jobs. What I am talking about demands responsibility not just on the shopfloor but in the boardroom. " Chancellor Brown said.

Already, unemployment is at a 19-year low of 1.12m, while inflation is at a 36-year historic low. Pressure has increased on the Labour government to relax its spending plans since reports of a £12bn surplus this year began to circulate.

Chancellor Brown dismissed these reports of a Labour "war chest" and said there would be no relaxation of Labour's financial prudence.

He said: "I am not going to make the same mistakes as Nigel Lawson. Sitting in this very same office in 1988, he thought and imagined he had a huge set of revenues that he could spend at will.

"It was only later that he discovered these revenues either did not exist or had not been earned."

Advanced options | Search tips

Back to top | BBC News Home | BBC Homepage | ©

The Economy Contents

Relevant Stories

16 Sep 99 | The Economy
Brown urges prudence for prosperity

Internet Links

The UK Treasury

The BBC is not responsible for the content of external internet sites.

In this section

Inquiry into energy provider loyalty

Brown considers IMF job

Chinese imports boost US trade gap

No longer Liffe as we know it

The growing threat of internet fraud

House passes US budget

Online share dealing triples

Rate fears as sales soar

Brown's bulging war-chest

Oil reaches nine-year high

UK unemployment falls again

Trade talks deadlocked

US inflation still subdued

Insolvent firms to get breathing space

Bank considered bigger rate rise

UK pay rising 'too fast'

Utilities face tough regulation

CBI's new chief named

US stocks hit highs after rate rise

US Fed raises rates

UK inflation creeps up

Row over the national shopping basket

Military airspace to be cut

TUC warns against following US

World growth accelerates

Union merger put in doubt

Japan's tentative economic recovery

EU fraud costs millions

CBI choice 'could wreck industrial relations'

WTO hails China deal

US business eyes Chinese market

Red tape task force

Websites and widgets

Guru predicts web surge

Malaysia's economy: The Sinatra Principle

Shell secures Iranian oil deal

Irish boom draws the Welsh

China deal to boost economy

US dream scenario continues

Japan's billion dollar spending spree