“BBC political editor Nick Robinson said the fact that a series of countries now look likely to implement packages of tax cuts and spending increases would allow Mr Brown to claim the UK is in the lead when it came to dealing with the economic crisis.”
- The U.S. fiscal stimulus plan worth $150 billion went into play in February with bi-partisan support.
- The Chinese stimulus package is a $586 billion public works acceleration plan announced last week.
- The German Cabinet approved a stimulus package weeks ago, as did the French.
- Australia’s second stimulus package was announced last month – though they have the advantage of a massive budget surplus after a decade of Conservative economic policies.
- Spain’s fiscal stimulus package was announced in April.
- Conservative run Canada also has for years run a budget surplus and remains determined to balance the budget and cut taxes.
- Japan has been doing fiscal stimulus for two decades.