Britains public finaces 25th April 2009


	Britains public finaces 25th April 2009

apollo13

4-24-2009 8:12 PM

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4-27-2009 11:30 AM

ratcatcher2

Good clip. Excellent for a newbie. Regards Mickey, the spaceman.

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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/18c57f21-2941-43b0-aa81-e3466b6119d0/DE6DEE04-4951-4551-B24D-54B9B5A2A599/" 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.economist.com/opinion/displaystory.cfm?story_id=13527695" href="http://www.economist.com/opinion/displaystory.cfm?story_id=13527695" style="font-size: 11px;">www.economist.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.economist.com/opinion/displaystory.cfm?story_id=13527695"><P>Britain’s public finances, however, are on some measures the worst of any rich country. It is likely to have a bigger deficit in 2010, as a percentage of GDP, than even the likes of Italy. With the financial heart shot out of the economy, tax revenues have fallen dramatically just as social spending has increased. That is unavoidable; but the government’s heavy borrowing, even before recession hit, was not. Now Mr Brown needs to tap the markets for £175 billion ($254 billion) in the current fiscal year and the same the year after. In last year’s budget, public net debt was expected to be 39% of GDP this year; now it is put at 59%, and likely to increase to 79% by 2013-14. This outcome would push Britain only to the middle of the rich-country pack. But the rapid increase in borrowing is eye-watering. </P></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;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/DE6DEE04-4951-4551-B24D-54B9B5A2A599/blog/" title="blog or email this clip"><img src="http://content8.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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