Brown rules out "quick fixes" for economy

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The Independent Online

Gordon Brown will today defend his management of the economy and insist he will not order any "quick fixes" that would damage the stability of the British economy.

In a keynote speech at the annual CBI conference, the Chancellor will say that stability cannot be taken for granted. He will praise the "British model" of economic management in comments that will be seen as evidence of a continued coldness towards continental Europe.

"In Britain today our new framework - this British model - has made Britain better placed than before to cope with the ups and downs of the economic cycle," he will say.

The Chancellor will highlight the need for vigilance on wage inflation and will emphasise the underlying strength of the public finances.

"We will not yield to inflationary pressures, any unaffordable wage demands or any short-term quick fixes or soft options that would risk or squander the huge economic opportunities that our hard-won stability offers the British people," he will say.

"Stability is never a final achievement but always a permanent, never-ending challenge. Stability first; yesterday, today, tomorrow and always."