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