FOR IMMEDIATE RELEASE
February 15, 2008
STATEMENT BY MAYOR MICHAEL R. BLOOMBERG ON PRIME MINISTER GORDON BROWN’S CONTRACT OUT OF POVERTY PROGRAM FOR THE UK
"I want to congratulate Prime Minister Brown for taking the bold step of proposing a 'Contract Out of Poverty' that would use the same kind of economic incentives that we're trying in New York City. Conditional cash transfers harness the power of capitalism to break the cycle of poverty, and we look forward to sharing strategies and findings with Employment Minister Stephen Timms when he visits New York. In the United States, we've long used government economic incentives to encourage middle-class families to buy their own homes and businesses to invest in the production our economy needs. Though it's too soon to say if applying those same principles to poverty will work as well in New York City as it has elsewhere, I've always said shame on us if we don't try."
Stu Loeser/Dawn Walker (212) 788-2958