--UK's Brown says US economy undergoing "necessary slowing"
--Brown hopes UK budget forecasts will reflect cautious optimism
--Brown: No indiscriminate across-the-board tax cuts in UK budget

By BridgeNews
London--Feb. 5--U.K. Chancellor of the Exchequer Gordon Brown said Monday that he was "cautiously optimistic" about the prospects for U.K. economic growth, despite what he described as a "necessary slowing" in the United States. He said it seemed the effects from the U.S. economy were being offset by decent growth in the euro zone and some parts of Asia. On the budget, Brown ruled out any "indiscriminate, across-the-board" tax cuts to sweeten the upcoming general election.
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On the domestic economy, Brown said: "We are still creating a large number of jobs." He said he was relatively confident the economy could keep this going, with some support from the euro zone.
All this cautious optimism would be reflected in the new set of economic forecasts published with the budget, Brown said.
The budget is expected to come in early March, although no date has yet been fixed. Brown said there would be no tax cuts in the budget that might endanger either economic stability or investment in public services. The focus of any tax breaks is likely to be on working families and children.
On the U.S., Brown said: "I believe the U.S. economy is experiencing a necessary slowing," he said, noting that the previous 5% growth level had been above the country's trend rate of growth and thus had to be reduced. More