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For the last seven months inflation has been boomers at or around 2.5 per cent and is forecast to remain at that level for the nest two fiscal years. Long term interest rates have come down significantly in the past year to sit at 4½ per cent the lowest in over 40 years. The UK's growth estimate for 1999 is 1 per cent to 1½ per cent and is forecast to reach boomers 2¾ to 3¼ per cent in 2001. Overall, unemployment figures for the past year have been at the lowest rate in 20 boomers years. Contributing to this figure are two significant achievements: youth unemployment has fallen by 57 per cent since May, 1997, and long term unemployment has been cut in half. The government expects a budget surplus for the current fiscal year of 4 billion pounds. Despite a 50 per cent decline in exports to East Asia due to the serious economic situation in that region, Britain, with other G7 nations, has rightly assumed a leadership role to address the root causes and contain the spread of future global crises.
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