economist

Some City economists say the gloom is overdone and we are "past the worst".

"Despite its close economic and military relationship with the US, Japan is being treated the same as other Asian trade partners," said economist Jesper Koll.

Sirleaf has a strong American background as she studied at Madison Business College and later went to Harvard University where she graduated as an economist.

Government U-turns on cutting disability benefits and winter fuel payments for pensioners have piled pressure on the government's spending plans, with economists saying tax rises are now likely in the autumn Budget.

“One of the reasons that economists really like this bill is that it would actually internalize the cost,” Brown said.