The U.K. government is considering implementing a series of measures to boost certain industries as the economic recovery remains uncertain and growth slowed towards the end of 2010, according to The Wall Street Journal. On Tuesday, an official spokesman said Chancellor George Osborne was meeting with Business Secretary Vince Cable to discuss possible solutions to “cross-economy issues.” The meetings will include several government departments and will “try and create a package of measures on the supply side that can support growth.”
The discussion of boosting industry comes as looming austerity measures threaten to weigh on the economic recovery. According to Financial Times, the results of a survey of 6,000 companies conducted by the British Chamber of Commerce suggests that growth is likely to have been about 0.4% in the fourth quarter of 2010 as manufacturing growth was offset by a weaker service sector. The figure put forward by the BCC is consistent with purchasing managers indices, but represents a marked slowdown from 1.1% and 0.7% growth in the second and third quarters.
Click here to read the story on boosting industry from The Wall Street Journal.
Click here for coverage of the economic growth from Financial Times.