Preheat oven to 350.
In a bowl sift together the flour, sugar, baking powder, salt, cinnamon and nutmeg.
In the bowl of an electric mixer combine the shortening, milk, and vanilla; beat on slow to medium speed for 2 minutes.
Scrape sides and bottom of mixing bowl several times. Beat in eggs and continue to beat for 2 minutes longer. Add the flour mixture and mix to combine.
Spoon batter into a generously greased and floured 9x13x2-inch baking pan. Bake for 40 to 45 minutes.
Cool and frost with caramel icing
To Make Caramel icing:
Combine brown sugar, milk and butter in a sauce pan.
Stirring constantly; bring to a boil and boil for 3 minutes.
Remove from heat and add vanilla. Let cool to lukewarm.
Beat until creamy and thick enough to spread.
If too thick, add a little more milk or a small amount of cream.