Blog: Five reasons Brown shouldn't be allowed near IMF

clock

I have long been of the view that when economic historians review the last 20 years they will condemn Gordon Brown as one of the worst Chancellors (and Prime Ministers) we ever had.

I struggle to see how any coherent case can be made for him to be considered as the new head of the International Monetary Fund in the wake of the departure of the disgraced Dominique Strauss-Kahn. I'll offer five outstanding reasons why I think history will judge his handling of the economy so harshly. From the moment he took office he set about destroying our pensions system with new taxes. We are left with a legacy of a mammoth pensions funding crisis. He presided over an unsustainable consumer credit boom despite the constant warnings of economists. The system of regulation ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

More work needed to tackle inflation as BoE members warn of further market turmoil

More work needed to tackle inflation as BoE members warn of further market turmoil

BoE MPC members spoke at Treasury Committee hearing

Sorin Dojan
clock 06 March 2025 • 2 min read
Trump's presidency and tariffs: Advice industry shares views

Trump's presidency and tariffs: Advice industry shares views

‘Stark raving mad’ but ‘great’ for US firms

Isabel Baxter
clock 18 February 2025 • 4 min read
Five-fold surge in advisers buying gilts for clients in 2024

Five-fold surge in advisers buying gilts for clients in 2024

AJ Bell finds 436% increase in gilt purchases on its Investcentre

Isabel Baxter
clock 10 February 2025 • 1 min read