Gordon Brown/Timelines: Difference between revisions
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* the [[budget balance]] changed from a deficit of 2.4 per cent of [[Gross Domestic Product|national income]] in 1996-7 to a surplus of 2.4 per cent in 2000-01, and the [[national debt]] fell from 42.5% of in 1996–97 to 30.7% of national income in 2000–01<ref name="ifs">[http://www.ifs.org.uk/bns/bn93.pdf Robert Chote, Rowena Crawford, Carl Emmerson and Gemma Tetlow: ''The public finances: 1997 to 2010'', Institute of Fiscal Studies, 2010]</ref> | * the [[budget balance]] changed from a deficit of 2.4 per cent of [[Gross Domestic Product|national income]] in 1996-7 to a surplus of 2.4 per cent in 2000-01, and the [[national debt]] fell from 42.5% of in 1996–97 to 30.7% of national income in 2000–01<ref name="ifs">[http://www.ifs.org.uk/bns/bn93.pdf Robert Chote, Rowena Crawford, Carl Emmerson and Gemma Tetlow: ''The public finances: 1997 to 2010'', Institute of Fiscal Studies, 2010]</ref> | ||
====Public sector investment and fiscal expansion 2000-2007 ==== | ====Public sector investment and fiscal expansion 2000-2007 ==== | ||
=====Budgetary changes===== | =====Budgetary changes 2000-2007===== | ||
* increased investment in health and education | * increased investment in health and education | ||
* the current budget balance moved from a surplus of 2.4 per cengt of national income in 2000–01 to a deficit of 0.3 per cent of national income by 2007–08 and the national debt rose to 36.5 per cent of national income in 2007–08.<ref name="ifs"/> | * the current budget balance moved from a surplus of 2.4 per cengt of national income in 2000–01 to a deficit of 0.3 per cent of national income by 2007–08 and the national debt rose to 36.5 per cent of national income in 2007–08.<ref name="ifs"/> | ||
=====The Euro===== | |||
:9 June - Brown delivers the Treasury assessment on the euro, saying that economic tests for UK membership have not been met. | |||
====International activities 1999-2007==== | ====International activities 1999-2007==== | ||
Revision as of 08:46, 22 May 2010
Parliamentary Career
Opposition
1983 Elected Member of Parliament for Dunfermline East as a member of the Labour Party under the leadership of Neil Kinnock.
1984 Attends Democratic National Convention on San Francisco
1967 Appointed Shadow Chief Secretary to the Treasury
1989 Appointed Shadow Secretary of State for Trade and Industry
1992 Appointed Shadow Chancellor
- John Smith replaces Neil Kinnock as Leader of the Opposition.
1993 3-day visit to the United States and meeting with Alan Greenspan.
1994 Death of John Smith
- 3 May - Gordon Brown announces that he will not stand for election as party leader
- 31 May - Meeting with Tony Blair at the Granita restaurant
- 8 September - Strategy conference at the Chewton Glen hotel
Chancellor of the Exchequer
Constitutional innovations1997-98.
- Independence for the Bank of England
- Five tests for Euro membership
- Code for Fiscal Stability
- Pre-budget reports
Fiscal contraction 1997-2000
- the budget balance changed from a deficit of 2.4 per cent of national income in 1996-7 to a surplus of 2.4 per cent in 2000-01, and the national debt fell from 42.5% of in 1996–97 to 30.7% of national income in 2000–01[1]
Public sector investment and fiscal expansion 2000-2007
Budgetary changes 2000-2007
- increased investment in health and education
- the current budget balance moved from a surplus of 2.4 per cengt of national income in 2000–01 to a deficit of 0.3 per cent of national income by 2007–08 and the national debt rose to 36.5 per cent of national income in 2007–08.[1]
The Euro
- 9 June - Brown delivers the Treasury assessment on the euro, saying that economic tests for UK membership have not been met.
International activities 1999-2007
- Chair of the International Monetary and Finance Committee 1999-2007
Prime Minister
2007-2009 Financial Crisis
- £500 billion bank rescue plan [2], including powers to take equity stakes in ailing banks and an undertaking to guarantee interbank loans.
- October 2008 Britain's bank rescue plan adopted in the EU and the USA[3]
2010 Northern Ireland agreement
2010 Deficit reduction plans
- Fiscal Responsibility Act[4] - imposes a duty on the Treasury to ensure that by the financial year ending 2014 public sector net borrowing as a percentage of GDP is at least halved from its level for the financial year ending 2010, and to make continuing reductions thereafter.
2010 General election
Opposition
Personal history
- 1951 Born, Glasgow, Son of John Brown, a Presbeterian church minister
- 1954 The family move to Kirkaldy
- 1961 Starts at Kirkaldy High School
- 1966 Passes A-level examinations with 5 A grades
- 1967 Starts at Edinburgh University
- becomes a serious Rugby player, but sporting career is ended by an accident in which he loses the sight of his left eye
- 1970 Awarded a Master of Arts (with 1st class honours)
- 1973 Elected Student Rector, Edinburgh University
- Becomes a member of the Scottish Labour Party's National Executive
- 1976: Politics lecturer, Glasgow College of Technology
- Selected as prospective parliamentary candidate for Edinburgh South
- 1980: Journalist (current affairs) Scottish Television
- 1982: Doctor of Philosophy, Edinburgh University
- 1983: Selected as prospective parliamentary candidate for Dunfermline East - and elected to parliament
- 1996: Appointed Member of Privy Council
- 2000: Marriage to Sarah Macaulay
References
- ↑ 1.0 1.1 Robert Chote, Rowena Crawford, Carl Emmerson and Gemma Tetlow: The public finances: 1997 to 2010, Institute of Fiscal Studies, 2010
- ↑ Rescue Plan for UK Banks Unveiled, BBC News 8 October 2008
- ↑ Paul Krugman: Gordon Does Good, New York Times, October 12 2008
- ↑ Fiscal Responsibility Act, Stationery Office, February 2010