British Prime Minister Gordon Brown will tell business leaders Monday that investment from China could help drive Britain's economic recovery.
In a speech to a conference organized by the Confederation of British Industry, the main business lobby group, Brown will outline his belief that Britain needs to attract inward investment.
"In our new growth strategy I want not just hundreds but thousands of Chinese companies in Britain, and British companies in China," Brown will say, according to excerpts released in advance by his office.
Britain is struggling with a major downturn despite attempts by the government and Bank of England to boost the economy, including holding interest rates at a record low of 0.5 percent since March, an unprecedented 175 billion pound ($290 billion) injection into the money supply and billions more through fiscal measures.
Brown will say in his speech that he does not expect to withdraw fiscal support soon.
"Choking off recovery by turning off the life support for our economies prematurely would be fatal to British jobs, British growth and British prosperity for years," he will say.
He will also repeat the message he told the Group of 20 finance ministers and central bankers at their meeting in St. Andrews, Scotland earlier this month - that it is time to consider a global financial levy, such as a tax on transactions or an insurance fee, that could support a "resolution fund" as a buffer against future bailouts.
| 
|
|
|
|
|
|
|