Gordon Brown Presides Over Record Trade Deficit
1.13.00pm BST (GMT +0100) Wed 9th Jun 2004
Commenting on April's trade figures released today, Malcolm Bruce MP, Liberal Democrat Shadow DTI Secretary, said: "Gordon Brown inherited a trade surplus when Labour came to power in 1997, and has managed to take the UK into record levels of deficit.
"There is huge pressure on the Bank of England to raise interest rates to control record debt levels and a rampant housing market.
"However, any rise will make it increasingly difficult for UK industry to compete on the world stage.
"The Government has completely failed to address the imbalance in the UK economy and the trade deficit is proof of their complacency."
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