Bailout and stimulus plans in U.S. and U.K.

Tuesday, November 25, 2008

Faced with the same economic crisis currently gripping the rest of the globe, Britain has unveiled an economic stimulus plan of its own, with some striking similarities and differences compared to the American plan. The U.K. package offers cuts in the sales tax to spur spending among middle and low-income earners and raises the tax rate on the wealthy. The Takeaway also examines the short and long-term implications of President-elect Obama's recently-announced stimulus plan.

"The banks have gotten quite a bailout so far and still been unable to lend."

— Jim Ellis

"It's like a horror film where you're in the car, you're turning the ignition key and the beast is bearing down. You've got to get that engine started."

— Paddy O'Connell on kick-starting the economy

Guests:

Jim Ellis and Paddy O'Connell

Contributors:

Jesse Baker and Noel King

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