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UK public finances
JICWyllie
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0
5-13-2008 12:44 PM
196 views
tags:
economy
,
i-public debt
,
i-increase
,
i-forecast
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/d366cfdd-1b4e-4917-a330-7470fc47fa03/A1300801-6486-45EE-A91F-3CD521FF0BE5/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/1/03f967e2-20c8-11dd-a0e6-000077b07658.html" href="http://www.ft.com/cms/s/1/03f967e2-20c8-11dd-a0e6-000077b07658.html" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/1/03f967e2-20c8-11dd-a0e6-000077b07658.html">Those hunting for ugly economic facts will find a surfeit of them in Britain. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/1/03f967e2-20c8-11dd-a0e6-000077b07658.html">Could the real horror show be the public finances? Net borrowing is high relative to most major economies. It was 2.6 per cent of gross domestic product in 2007/8 and, according to the Treasury’s forecasts, will be about 3 per cent for this fiscal year and next. If the last downturn is anything to go by, UK governments can get their sums spectacularly wrong. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/1/03f967e2-20c8-11dd-a0e6-000077b07658.html">External “pessimistic scenario” forecasts, predicated on a slowdown of growth to below 1 per cent this year, point to net borrowing of about 4 per cent of GDP by 2009/10.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/A1300801-6486-45EE-A91F-3CD521FF0BE5/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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