Leave your feedback Share Copy URL https://www.pbs.org/newshour/show/britain-crafts-tax-plan-to-help-address-countrys-economic-ills Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Transcript The British Parliament on Monday considered changes to its income and sales taxes as a means to alleviate the economic downturn. Margaret Warner reports from London about the proposed stimulus plan. Read the Full Transcript Notice: Transcripts are machine and human generated and lightly edited for accuracy. They may contain errors. JIM LEHRER: Next, Britain tries its own economic stimulus package. And Margaret Warner reports on that from London. MARGARET WARNER: It's a month before Christmas, and London's Oxford Street is filled with would-be shoppers, gazing at the glittering window displays, but mostly free of shopping bags. And salespeople say customers haven't opened their wallets yet. CAB DRIVER: We've been the first to feel the crunch. MARGARET WARNER: One of the best barometers of London's economic health are its cab drivers. CAB DRIVER: The business is really right down. We have to be in the cab seven days a week to earn any money, really. MARGARET WARNER: And today Prime Minister Gordon Brown unveiled his latest recession fighter: a nearly 20 billion dollar pound stimulus package with a temporary sales tax cut and a bit more spending on infrastructure.This comes not a moment too soon for Britain. The retail sector is hurting; homes aren't selling; unemployment is its highest in 11 years and forecast to get worse; and the British pound has lost a quarter of its value against the dollar.All that means Gordon Brown has an anxious British public to reassure. JAMES MAX, Radio Talk Show Host: Five minutes past 5:00, you are listening to "Business Matters"… MARGARET WARNER: Just six months ago, London radio talk show host James Max was fielding calls from listeners looking for advice about how to profit in a booming economy. No longer. JAMES MAX: The kinds of questions that we're getting are, "I've got money in my bank account. Is it even safe?"