Gordon Brown/Timelines: Difference between revisions
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===Opposition 1983-97=== | ===Opposition 1983-97=== | ||
* 1983 Elected Member of Parliament for Dunfermline East as a member of the [[Labour Party]] | * 1983 Elected [[Member of Parliament (UK)|Member of Parliament]] for Dunfermline East as a member of the [[Labour Party (UK)|Labour Party]] . | ||
:(Maiden speech[http://www.theyworkforyou.com/debates/?id=1983-07-27a.1226.0&s=speaker%3A10068#g1239.0]) | :(Maiden speech[http://www.theyworkforyou.com/debates/?id=1983-07-27a.1226.0&s=speaker%3A10068#g1239.0]) | ||
: [[Tony Blair/Catalogs#Kinnock, Neil|Neil Kinnock ]] replaces Michael Foot as leader of the Labour Party | |||
* 1984 Brown attends Democratic National Convention on San Francisco | * 1984 Brown attends Democratic National Convention on San Francisco | ||
''1987 General election: Conservative 46% 358 seats; Labour 30% 155 seats; Liberal/SDP alliance 24% 10seats'' | ''1987 [[General election (UK)|General Election]]: Conservative 46% 358 seats; Labour 30% 155 seats; Liberal/SDP alliance 24% 10seats'' | ||
* 1987 | * 1987 Appointed [[Shadow minister|Shadow]] Chief Secretary to the Treasury | ||
* 1989 Appointed Shadow Secretary of State for Trade and Industry | * 1989 Appointed [[Shadow minister|Shadow]] Secretary of State for Trade and Industry | ||
''1992 General election: Conservative 42% 336 seats; Labour 34% 271 seats; Liberal Democrats 18% 20seats'' | ''1992 [[General election (UK)|General Election]]: Conservative 42% 336 seats; Labour 34% 271 seats; Liberal Democrats 18% 20seats'' | ||
: | : Appointed [[Shadow minister|Shadow]] [[Chancellor of the Exchequer]] | ||
: John Smith replaces Neil Kinnock as Leader of the Opposition. | : [[Tony Blair/Catalogs#Smith, John|John Smith]] replaces Neil Kinnock as Leader of the [[Official Opposition (UK)|Opposition]]. | ||
* 1993 3-day visit to the United States and meeting with [[Alan Greenspan]]. | * 1993 3-day visit to the United States and meeting with [[Alan Greenspan]]. | ||
* 1994 Death of John Smith | * 1994 Death of John Smith | ||
: 31 May - Meeting with [[Tony Blair]] at the ''Granita'' restaurant | : 31 May - Meeting with [[Tony Blair]] at the ''Granita'' restaurant | ||
: 8 September - Strategy conference at the ''Chewton Glen'' hotel | : 8 September - Strategy conference at the ''Chewton Glen'' hotel | ||
''1997 General election: Labour 43% 418 seats; Conservative 31% 165 seats; Liberal Democrats 17% 46seats'' | ''1997 [[General election (UK)|General Election]]: Labour 43% 418 seats; Conservative 31% 165 seats; Liberal Democrats 17% 46seats'' | ||
===Chancellor of the Exchequer 1997-2007=== | ===Chancellor of the Exchequer 1997-2007=== | ||
====First term 1997-2001==== | |||
* Bank of England Act 1998[http://www.opsi.gov.uk/acts/acts1998/ukpga_19980011_en_1], gave the Bank responsibility for setting interest rates to meet the Government's stated inflation target. | * Bank of England Act 1998[http://www.opsi.gov.uk/acts/acts1998/ukpga_19980011_en_1], gave the Bank responsibility for setting interest rates to meet the Government's stated inflation target. | ||
* Five tests for Euro membership | * The Comprehensive Spending Review[http://archive.treasury.gov.uk/pub/html/efsr/chap1.htm] and Public Service Agreement System[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/pbr_csr07_psaindex.htm ] system is introduced, replacing the former annual spending review process with a longer-term (3-year) commitment, and setting performance targets. | ||
* [[Gordon Brown/Addendum#The Euro: Gordon Brown's five tests|Five tests for Euro membership]] | |||
* [[Fiscal policy/Addendum#The UK's Code for Fiscal Stability|Code for Fiscal Stability]] | * [[Fiscal policy/Addendum#The UK's Code for Fiscal Stability|Code for Fiscal Stability]] | ||
* Pre-budget reports | * Gordon Brown introduces the first pre-budget report[http://www.hm-treasury.gov.uk/prebud_index.htm] - (a progress report, an update of the state of the economy and public finances, and a statement of Government policy in the run up to the spring Budget) after which they were published annually<ref>Pre-budget reports 1997-2009[http://webarchive.nationalarchives.gov.uk/20100407010852/http://www.hm-treasury.gov.uk/prebud_pbr09_index.htm ]</ref>. | ||
* Budget 1997[http://archive.treasury.gov.uk/budget/1997/report/budget97.htm] | * Budget 1997[http://archive.treasury.gov.uk/budget/1997/report/budget97.htm]- corporation tax rate cut from 33% to 31% (23 -21 for small firms), windfall tax on private utilities, welfare-to-work scheme. | ||
* Budget 1998[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/1998_budget_at_a_glance.htm] | * Budget 1998[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/1998_budget_at_a_glance.htm]- Working Families Tax Credit | ||
* Budget 1999[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud99_index.htm] | * Comprehensive Spending Review | ||
* Budget 1999[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud99_index.htm] - basic income tax rate reduced by 1p to 23p | |||
* Budget 2000[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud00_index.htm] | * Budget 2000[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud00_index.htm] | ||
* Financial Services and Markets Act 2000[http://www.opsi.gov.uk/acts/acts2000/en/ukpgaen_20000008_en_1.htm] | * Comprehensive Spending Review - extra £43 billion for public services in 2001-4 | ||
* Budget 2001[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud01_index.htm] | * Financial Services and Markets Act 2000[http://www.opsi.gov.uk/acts/acts2000/en/ukpgaen_20000008_en_1.htm] established the Financial Services Authority to combine the functions of 6 regulatory bodies - supplemented by a three-party memorandum of understanding [http://www.bankofengland.co.uk/financialstability/mou.pdf] | ||
* Budget 2001[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud01_index.htm] - more money for health and education. Increase in child tax credit | |||
''2001 General election: Labour 40% 413 seats; Conservative 32% 166 seats; Liberal Democrats 18% 52seats'' | ''2001 General election: Labour 40% 413 seats; Conservative 32% 166 seats; Liberal Democrats 18% 52seats'' | ||
====Second term 2002-2005 ==== | |||
* Budget 2002[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud02_index.htm] | * Budget 2002[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud02_index.htm] | ||
* Enterprise Act 2002[http://www.opsi.gov.uk/acts/acts2002/en/ukpgaen_20020040_en_1] gives political independence and additional investigatory and punitive powers to the competition authorities | * Enterprise Act 2002[http://www.opsi.gov.uk/acts/acts2002/en/ukpgaen_20020040_en_1] gives political independence and additional investigatory and punitive powers to the [[Competition policy|competition authorities]] | ||
* Budget 2003[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud03_index.htm] | * Budget 2003[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud03_index.htm] | ||
* November 2003: Admiralty House meeting with Tony Blair at which an agreement concerning Gordon Brown's succession as PM<ref> Tony Blair: ''A Journey'', page 497, Hutchinson, 2010</ref> | |||
* Budget 2004[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud04_index.htm] | * Budget 2004[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud04_index.htm] | ||
* Report of Gershon Review of efficiency in the public services[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/d/efficiency_review120704.pdf] | |||
* Budget 2005[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud05_index.htm] | * Budget 2005[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud05_index.htm] | ||
: Better Regulation Commission[http://archive.cabinetoffice.gov.uk/brc/about_us.html] | : Better Regulation Commission[http://archive.cabinetoffice.gov.uk/brc/about_us.html] | ||
* Gleneagles Summit 2005[http://webarchive.nationalarchives.gov.uk/+/http://www.number10.gov.uk/Page7883] G8 leaders under Gordon Brown's chairmanship agree to double aid for Africa by 2010. | |||
''2005 General election: Labour 35% 356 seats; Conservative 32% 198 seats; Liberal Democrats 22% 62 seats'' | ''2005 General election: Labour 35% 356 seats; Conservative 32% 198 seats; Liberal Democrats 22% 62 seats'' | ||
====Third term 2005-07==== | |||
* Budget 2006[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud06_index.htm] | * Budget 2006[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud06_index.htm] | ||
* Budget 2007[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud07_index.htm] | * Budget 2007[http://webarchive.nationalarchives.gov.uk/+/http://www.hm-treasury.gov.uk/bud_bud07_index.htm] | ||
= | ===Prime Minister 2007-2010 === | ||
* | ====2007==== | ||
* June. [[Tony Blair]] retires, Gordon Brown becomes Prime Minister and [[Alistair Darling]] becomes [[Chancellor of the Exchequer]]. | |||
: Gordon Brown proposes the transfer to Parliament of parts of the Royal Prerogative powers that are exercised by the Prime Minister[http://www.churchtimes.co.uk/content.asp?id=40737] | |||
* July. ''The Governance of Britain''[http://www.official-documents.gov.uk/document/cm71/7170/7170.pdf]: a government Green Paper that proposes a transfer of power from the Executive to Parliament, and increases in its accountability to Parliament | |||
* September. [[Run (banking)|Run]] on the ''Northern Rock'' ban; the [[Chancellor of the Exchequer]] authorises [[liquidity]] support. | |||
* November. Policy speeches | |||
: Speech on foreign policy[http://webarchive.nationalarchives.gov.uk/20071104170014/http://number10.gov.uk/output/Page13736.asp]. Included "a new framework for security and reconstruction", "new initiatives in non-proliferation" and "the renewal of the international institutions". | |||
: Speech on climate change[http://webarchive.nationalarchives.gov.uk/20071104170014/http://number10.gov.uk/output/Page13791.asp]. A proposal for a global carbon market. | |||
* November. A [[credit crunch]] begins as the UK banking system suffers losses as a result of the [[subprime mortgage crisis]][http://www.economist.com/theworldin/displaystory.cfm?story_id=10091760] | |||
====2008==== | |||
* February. The ''Northern Rock'' bank is "nationalised'' [http://news.bbc.co.uk/1/hi/business/7249575.stm]. | |||
* March. ''The Governance of Britain - Constitutional Renewal''[http://www.justice.gov.uk/docs/constitutional-renewal-white-paper.pdf]. White Paper on government proposals including Parliamentary powers concerning the ratification of treaties and the deployment of the armed forces | |||
* April. Bank of England announces its ''Special Liquidity Scheme'' to allow banks to swap some of their [[Liquidity|illiquid]] assets for liquid Treasury [[Bills]] for up to three years [http://www.bankofengland.co.uk/markets/sls/sls-information.pdf]. | |||
* September. | |||
: The collapse of the United States ''Lehman Brothers'' [[investment bank]] triggers the [[crash of 2008/Timelines#The Crash stage 3 (September - December 2008)|culminating stage]] of the financial [[crash of 2008]] | |||
: New York visit. Discussions with President Bush and Tim Geithner (President, New York Fed) about the need for bank recapitalisation | |||
::Speech to the United Nations[http://www.un.org/en/ga/63/generaldebate/pdf/uk_en.pdf] on the need for concerted action. | |||
* October. | |||
: The government launches a £500 billion bank rescue plan <ref>[http://news.bbc.co.uk/2/hi/business/7658277.stm Rescue Plan for UK Banks Unveiled, BBC News 8 October 2008]</ref> <ref>[http://news.bbc.co.uk/1/hi/business/7658307.stm ''Government statement on financial support'' 8 October 2008]</ref> including powers to take [[equity (finance)|equity]] stakes in ailing banks and an unlimited undertaking to guarantee bank loans. | |||
: Paris meetings with President Sarkozy, Chancellor Merkel and Prime Ministers Berlusconi and Barroso. | |||
: Britain's bank rescue plan is adopted in the EU and the USA<ref>[http://www.nytimes.com/2008/10/13/opinion/13krugman.html Paul Krugman: ''Gordon Does Good'', New York Times, October 12 2008]</ref> | |||
* November. | |||
: The head of the [[International Monetary Fund|IMF]] asks for a coordinated [[fiscal stimulus]] of 2 per cent of GDP[http://www.imf.org/external/np/tr/2008/tr081115.htm] | |||
: Chancellor Darling announces a £20 billion [[fiscal stimulus]] including a temporary reduction in [[Taxation#Taxes on consumption|value added tax]] (amounting to about 1 per cent of GDP)[http://webarchive.nationalarchives.gov.uk/20100407010852/http://www.hm-treasury.gov.uk/prebud_pbr08_index.htm]; and suspends the [[Fiscal policy/Addendum#The UK's Code for Fiscal Stability|code for fiscal stability]]. | |||
: [[G20 summit#Washington summit|Washington summit]] of [[G20]] agrees to take whatever further actions are necessary to stabilize the financial system, and use monetary policy and fiscal measures to stimulate domestic demand while maintaining a policy framework conducive to fiscal sustainability (but leaders fail to agree to coordinate their measures). | |||
=== | ====2009==== | ||
* | * January. The Chancellor authorises the [[Bank of England]] to set up a Treasury-financed ''Asset Purchase Facility'' to buy high-quality assets for the purpose of [[quantitative easing]] operations [http://www.bankofengland.co.uk/markets/apf/]. | ||
* April. [[G20 summit#London summit|London G20 summit]] | |||
* May. An IMF team expresses confidence in the government's policies and concludes that "...we expect the authorities to deliver domestic and external stability and set the stage for a sustainable recovery"[http://webarchive.nationalarchives.gov.uk/20100407010852/http://www.hm-treasury.gov.uk/ukecon_imf_articleIV2009.htm]. | |||
* April | * September Financial Services Bill [http://www.parliament.uk/documents/commons/lib/research/rp2009/rp09-084.pdf] | ||
* October. The end of the [[recession]] and the beginning of a gradual recovery. | |||
* | * December. Gordon Brown addresses the Copenhagen Conference on climate change[http://www.businessgreen.com/business-green/news/2255214/gordon-brown-copenhagen-speech][http://www.parliament.uk/documents/commons/lib/research/rp2009/rp09-087.pdf.] | ||
''2010 General election Conservative 36% 306 seats; Liberal Democrats 23% 57 seats, Labour 29% 258 seats''. | ====2010==== | ||
* February. The ''Fiscal Responsibility Act''<ref>[http://www.opsi.gov.uk/acts/acts2010/en/ukpgaen_20100003_en.pdf Fiscal Responsibility Act, Stationery Office, February 2010]</ref> - 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. | |||
* February. The ''Hillsborough Castle Agreement'' on the continuation of Northern Ireland devolution [http://www.nio.gov.uk/agreement_at_hillsborough_castle_5_february_2010.pdf] | |||
* April. ''Constitutional Reform and Governance Act''[http://www.justice.gov.uk/publications/constitutional-reform.htm]: provides for the Parliamentary scrutiny of treaties before ratification. (Other proposals in the original Bill were abandoned) | |||
* May. The Labour Party loses power in the general election and Gordon Brown resigns as Prime Minister. | |||
''2010 General election: Conservative 36% 306 seats; Liberal Democrats 23% 57 seats, Labour 29% 258 seats''. | |||
===Opposition=== | ===Opposition=== | ||
==Awards and appointments== | |||
* Membership of the Privy Council 1996. | |||
* Chair of the [[International Monetary and Finance Committee]] 1999-2007 | |||
* World Statesman Award 2009 [http://www.appealofconscience.org/news/article.cfm?id=100222] by the Appeal of Conscience Foundation | |||
==Personal history== | ==Personal history== | ||
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*1966 Passes Higher School Certificate (A-level equivalent) examinations with 5 A grades | *1966 Passes Higher School Certificate (A-level equivalent) examinations with 5 A grades | ||
*1967 Starts at Edinburgh University | *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 | *: becomes a serious Rugby player, but sporting career is ended by an accident in which he loses the sight of his left eye[http://www.rediff.com/news/2007/dec/24gordon.htm] | ||
*1970 Awarded a Master of Arts (with 1st class honours) | *1970 Awarded a Master of Arts (with 1st class honours) | ||
*1973 Elected Student Rector, Edinburgh University | *1973 Elected Student Rector, Edinburgh University | ||
Line 75: | Line 120: | ||
*1983: Selected as prospective parliamentary candidate for Dunfermline East - and elected to parliament | *1983: Selected as prospective parliamentary candidate for Dunfermline East - and elected to parliament | ||
*1996: Appointed Member of Privy Council | *1996: Appointed Member of Privy Council | ||
*2000: Marriage to Sarah Macaulay | *2000: Marriage to Sarah Macaulay[http://www.independent.co.uk/news/people/profiles/who-is-sarah-brown-451300.html] | ||
*2001: Birth of daughter, Jennifer Jane | |||
*2002: Death of Jennifer Jane | |||
*2004: Birth of first son, James Macaulay[http://news.scotsman.com/gordonbrownsfamily/Chancellors-daughter-remembered-at-christening.2522714.jp] | |||
*2006: Birth in July of second son, James Frazer, found in November to be suffering from cystic fibrosis[http://news.bbc.co.uk/1/hi/6157891.stm] | |||
*2010: Decides to devote himself to 3 world charities[http://www.telegraph.co.uk/news/newstopics/politics/gordon-brown/7978019/Gordon-Brown-announces-charity-work-plans.html.] | |||
==References== | ==References== | ||
{{reflist}} | {{reflist}} |
Latest revision as of 10:25, 11 January 2011
Parliamentary Career
Opposition 1983-97
- 1983 Elected Member of Parliament for Dunfermline East as a member of the Labour Party .
- (Maiden speech[2])
- Neil Kinnock replaces Michael Foot as leader of the Labour Party
- 1984 Brown attends Democratic National Convention on San Francisco
1987 General Election: Conservative 46% 358 seats; Labour 30% 155 seats; Liberal/SDP alliance 24% 10seats
- 1987 Appointed Shadow Chief Secretary to the Treasury
- 1989 Appointed Shadow Secretary of State for Trade and Industry
1992 General Election: Conservative 42% 336 seats; Labour 34% 271 seats; Liberal Democrats 18% 20seats
- Appointed Shadow Chancellor of the Exchequer
- 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
- 31 May - Meeting with Tony Blair at the Granita restaurant
- 8 September - Strategy conference at the Chewton Glen hotel
1997 General Election: Labour 43% 418 seats; Conservative 31% 165 seats; Liberal Democrats 17% 46seats
Chancellor of the Exchequer 1997-2007
First term 1997-2001
- Bank of England Act 1998[3], gave the Bank responsibility for setting interest rates to meet the Government's stated inflation target.
- The Comprehensive Spending Review[4] and Public Service Agreement System[5] system is introduced, replacing the former annual spending review process with a longer-term (3-year) commitment, and setting performance targets.
- Five tests for Euro membership
- Code for Fiscal Stability
- Gordon Brown introduces the first pre-budget report[6] - (a progress report, an update of the state of the economy and public finances, and a statement of Government policy in the run up to the spring Budget) after which they were published annually[1].
- Budget 1997[7]- corporation tax rate cut from 33% to 31% (23 -21 for small firms), windfall tax on private utilities, welfare-to-work scheme.
- Budget 1998[8]- Working Families Tax Credit
- Comprehensive Spending Review
- Budget 1999[9] - basic income tax rate reduced by 1p to 23p
- Budget 2000[10]
- Comprehensive Spending Review - extra £43 billion for public services in 2001-4
- Financial Services and Markets Act 2000[11] established the Financial Services Authority to combine the functions of 6 regulatory bodies - supplemented by a three-party memorandum of understanding [12]
- Budget 2001[13] - more money for health and education. Increase in child tax credit
2001 General election: Labour 40% 413 seats; Conservative 32% 166 seats; Liberal Democrats 18% 52seats
Second term 2002-2005
- Budget 2002[14]
- Enterprise Act 2002[15] gives political independence and additional investigatory and punitive powers to the competition authorities
- Budget 2003[16]
- November 2003: Admiralty House meeting with Tony Blair at which an agreement concerning Gordon Brown's succession as PM[2]
- Budget 2004[17]
- Report of Gershon Review of efficiency in the public services[18]
- Budget 2005[19]
- Better Regulation Commission[20]
- Gleneagles Summit 2005[21] G8 leaders under Gordon Brown's chairmanship agree to double aid for Africa by 2010.
2005 General election: Labour 35% 356 seats; Conservative 32% 198 seats; Liberal Democrats 22% 62 seats
Third term 2005-07
Prime Minister 2007-2010
2007
- June. Tony Blair retires, Gordon Brown becomes Prime Minister and Alistair Darling becomes Chancellor of the Exchequer.
- Gordon Brown proposes the transfer to Parliament of parts of the Royal Prerogative powers that are exercised by the Prime Minister[24]
- July. The Governance of Britain[25]: a government Green Paper that proposes a transfer of power from the Executive to Parliament, and increases in its accountability to Parliament
- September. Run on the Northern Rock ban; the Chancellor of the Exchequer authorises liquidity support.
- November. Policy speeches
- Speech on foreign policy[26]. Included "a new framework for security and reconstruction", "new initiatives in non-proliferation" and "the renewal of the international institutions".
- Speech on climate change[27]. A proposal for a global carbon market.
- November. A credit crunch begins as the UK banking system suffers losses as a result of the subprime mortgage crisis[28]
2008
- February. The Northern Rock bank is "nationalised [29].
- March. The Governance of Britain - Constitutional Renewal[30]. White Paper on government proposals including Parliamentary powers concerning the ratification of treaties and the deployment of the armed forces
- April. Bank of England announces its Special Liquidity Scheme to allow banks to swap some of their illiquid assets for liquid Treasury Bills for up to three years [31].
- September.
- The collapse of the United States Lehman Brothers investment bank triggers the culminating stage of the financial crash of 2008
- New York visit. Discussions with President Bush and Tim Geithner (President, New York Fed) about the need for bank recapitalisation
- Speech to the United Nations[32] on the need for concerted action.
- October.
- The government launches a £500 billion bank rescue plan [3] [4] including powers to take equity stakes in ailing banks and an unlimited undertaking to guarantee bank loans.
- Paris meetings with President Sarkozy, Chancellor Merkel and Prime Ministers Berlusconi and Barroso.
- Britain's bank rescue plan is adopted in the EU and the USA[5]
- November.
- The head of the IMF asks for a coordinated fiscal stimulus of 2 per cent of GDP[33]
- Chancellor Darling announces a £20 billion fiscal stimulus including a temporary reduction in value added tax (amounting to about 1 per cent of GDP)[34]; and suspends the code for fiscal stability.
- Washington summit of G20 agrees to take whatever further actions are necessary to stabilize the financial system, and use monetary policy and fiscal measures to stimulate domestic demand while maintaining a policy framework conducive to fiscal sustainability (but leaders fail to agree to coordinate their measures).
2009
- January. The Chancellor authorises the Bank of England to set up a Treasury-financed Asset Purchase Facility to buy high-quality assets for the purpose of quantitative easing operations [35].
- April. London G20 summit
- May. An IMF team expresses confidence in the government's policies and concludes that "...we expect the authorities to deliver domestic and external stability and set the stage for a sustainable recovery"[36].
- September Financial Services Bill [37]
- October. The end of the recession and the beginning of a gradual recovery.
- December. Gordon Brown addresses the Copenhagen Conference on climate change[38][39]
2010
- February. The Fiscal Responsibility Act[6] - 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.
- February. The Hillsborough Castle Agreement on the continuation of Northern Ireland devolution [40]
- April. Constitutional Reform and Governance Act[41]: provides for the Parliamentary scrutiny of treaties before ratification. (Other proposals in the original Bill were abandoned)
- May. The Labour Party loses power in the general election and Gordon Brown resigns as Prime Minister.
2010 General election: Conservative 36% 306 seats; Liberal Democrats 23% 57 seats, Labour 29% 258 seats.
Opposition
Awards and appointments
- Membership of the Privy Council 1996.
- Chair of the International Monetary and Finance Committee 1999-2007
- World Statesman Award 2009 [42] by the Appeal of Conscience Foundation
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 Higher School Certificate (A-level equivalent) 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[43]
- 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[44]
- 2001: Birth of daughter, Jennifer Jane
- 2002: Death of Jennifer Jane
- 2004: Birth of first son, James Macaulay[45]
- 2006: Birth in July of second son, James Frazer, found in November to be suffering from cystic fibrosis[46]
- 2010: Decides to devote himself to 3 world charities[47]
References
- ↑ Pre-budget reports 1997-2009[1]
- ↑ Tony Blair: A Journey, page 497, Hutchinson, 2010
- ↑ Rescue Plan for UK Banks Unveiled, BBC News 8 October 2008
- ↑ Government statement on financial support 8 October 2008
- ↑ Paul Krugman: Gordon Does Good, New York Times, October 12 2008
- ↑ Fiscal Responsibility Act, Stationery Office, February 2010