Word: brittanic
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Despite the underlying strength of the recovery, which Brittan compared with the "golden age" before the first oil crisis in 1973, the slow upward creep of unemployment-now at 12.5%-has not halted. The problem, according to Brittan, is that labor is taking the fruits of the economic upswing in the form of higher pay rather than in more jobs. The spurt in corporate profits, up 25% last year and expected to continue rising, could gradually encourage employers to hire more workers, Brittan believes...
Still, forecasters have grown wary of trying to predict just where the high flying dollar might next be headed. Said Board Member Sam Brittan last week: "There could be a sharp drop in the dollar over the next six months, or there could be a gradual drop, or it could move even higher. The only honest answer is that we do not know." Having been consistently amazed by the dollar's surge, the experts now prefer to let the currency do the talking. - By John Greenwald. Reported by Christopher Redman/Washington and Adam Zagorin/New York
Home Secretary Leon Brittan was halfway through a speech to the House of Commons last week when an aide slipped him a piece of paper. Brittan had been delivering a report on the peaceful conclusion to the siege of St. James's Square, where two weeks earlier an unidentified gunman inside the Libyan embassy had fired an automatic weapon at a crowd of Libyan dissidents outside, killing Constable Yvonne Fletcher and wounding eleven demonstrators. After glancing quickly at the message, Brittan declared that police had a few moments earlier found handguns and ammunition in the vacated embassy. More significant...
...Commons statement, Brittan disclosed that the government had narrowed its list of suspects in Constable Fletcher's murder down to two of the 30 Libyans in the embassy. Nonetheless, he emphasized, there was insufficient proof to name the killer and, in any event, the suspect would have been able to claim diplomatic immunity from prosecution. Brittan announced that the government would be taking steps to restrict the entry of Libyan citizens into the country and to keep closer tabs on the 6,500 already there. In addition, the government is expected to take a careful look...
...deficit dilemma facing the U.S. is a problem inherent in free societies. Democratic governments around the world have found it easy to give out favors and almost impossible to take them back. Writes Samuel Brittan, a British economic commentator, in his new book The Role and Limits of Government: "Each of us wants the benefit of services while transferring the cost to some other group; we evade the problem of deciding who should be the loser...