Judge Brown's Budget on his efforts to curb the Micawbers

From: The Independent (London, England) | Date: June 24, 1997| Author: | Copyright information

How do you gather up a windfall? The London markets are waking up to the fact that something has to be done to stop the windfall gains from the flotation of the building society and mutual insurance groups from feeding through into additional demand.

About time too, you might think. The problem has been evident for the best part of a year and economists have been trying to calculate the impact for several months. But it has only been in the past few weeks that financial markets have cottoned on to the full practical implications. These are: one, that interest rates will have to rise quite ...

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