No compelling case for rate cut - papers 13th October

The OECD also said Gordon Brown would need to raise taxes in its annual assessment of the UK economy says the paper.. The Telegraph quotes the OECD as saying: "Under current spending plans, an increase in the tax ratio will be required to meet the fiscal rules and significantly reduce the deficit over the coming [economic] cycle.” The report was generally positive, and the UK came first among its Group of Seven peers for its economic stability. However, in terms of wealth per person, the UK has overtaken France, Germany, Italy and Japan, but still languishes at 14th place out of t...