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<p>The Treasury continually monitors global economic developments, including those
in Europe and Japan, and their impact on the UK.</p><p> </p><p> </p><p> </p><p>The
UK is one of the most open economies in the world through trade and financial channels,
so we are not immune from global developments. Despite the effects of these developments,
the UK was the fastest growing major advanced economy (G7) in the first half of the
year, the deficit is falling and there are record levels of people in work.</p><p>
</p><p> </p><p> </p><p>As the Chancellor said last month: “We need to send a clear
message out around the world that we have a stable economy, that our economic plan
is working, and that we’re not going to deviate from that economic plan, so that people
around the world know that while Britain is not immune from what is going on in the
world we can take steps to protect ourselves.”</p><p> </p><p> </p><p> </p>
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