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UK economic recovery not taken for granted

UK economic recovery not taken for granted article image
The global economy is in a fragile state and an economic recovery for the UK cannot be taken for granted, said British Prime Minister Gordon Brown at his monthly press conference yesterday. "There's no room for complacency, the world economy remains fragile, economic recovery cannot be taken for granted either here or abroad," he said. "People are maybe too complacent about recovery; we're determined to keep our focus." Actions such as nationalising the Royal Bank of Scotland have kept the economy from collapsing, although Britain remains in recession despite the government's efforts to rescue the economy. The International Monetary Fund predicts the British economy will contract 4.2 percent this year. The unemployment rate is currently 7.6 percent.

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