Gordon Brown warned of rising bankruptcy rates next year as the country reels from the coronavirus recession. The former Prime Minister called on the world's major powers to unite and unleash a £1.2trillion fund to tackle the impact of Covid-19.
The ex-Labour leader, who was widely praised for bringing together international leaders in the aftermath of the 2007-8 credit crunch, told the Chatham House think tank: “We have spent a huge amount of money on protecting jobs – but you have to ask yourself, 'Are we properly prepared for the recovery?' “When I was in government you had to be two steps ahead, you couldn't be behind the curve.” Outlining predictions for the wave of economic consequences, the former Chancellor said: “First of all
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