O'Neill backs Brown all the way
Ahead of tomorrow's pre-Budget speech, US Treasury secretary Paul O'Neill has thrown his full support behind chancellor Gordon Brown's handling of the UK economy.
In a speech to the Confederation of British Industry yesterday, O’Neill, rejected criticisms from delegates that Brown along with trade and industry secretary Patricia Hewitt had made Britain a less attractive place to do business.
He said: ‘The UK has a lot to be admired and has done quite well compared to Western Europe.’
Earlier, Brown had defended his handling of the economy, claiming the UK had had more stability in the last five years.
‘I don’t accept that Britain is a worse place [to do business] than five years ago.’
The pre-Budget speech takes place tomorrow afternoon. AccountancyAge.com will report on the speech as it happens, followed by analysis and comment.