Alistair Darling: We may just print more money

The Chancellor, Alistair Darling today confessed today in an interview with the Financial that the UK recession is much deeper than they had expected.

Darling, repeated himself several times describing the outlook as “difficult”, he also added that he may have to tear up his previous forecast on the economy. He also talked of how difficult 2009 are going to be and how the government will be faced with some tough calls.

In the Chancellors last forecast he had predicted that the economy would pick up in the second half of 2009, but it’s clear that Britain has not even reached its half way point, with consumer confidents at an all time low and the retail sector crumbling every day, the outlook is gloomy for 2009.

The authorization to print more money to allow the government to spend buying assets from the ailing financial sector is another option the Chancellor talked about, he did rule out handing over the overall responsibility to the Bank of England.

Source: Guardian

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