Sport
Man gets death sentence, fine in double murder case
字号+ Author: Source:PG Game 2025-01-16 12:57:30 I want to comment(0)
LONDON: British government debt hit 100 per cent of economic output for the first time in recent his
LONDON: British government debt hit 100 per cent of economic output for the first time in recent history and there was another large budget deficit last month, adding to the problems for Finance Minister Rachel Reeves as she readies her tax and spending plans. Public sector net debt, excluding public sector-owned banks, rose to 100 per cent of GDP for the first time since monthly records began in 1993, up from 99.3 per cent in July, the Office for National Statistics said on Friday. Bank of England records show debt was last running at this level on a regular basis in the early 1960s, when Britain was still dealing with the financial repercussions of World War Two. Government debt soared during the global financial crisis and then again during the Covid-19 pandemic. Weak economic growth since then has also contributed to the increase as a share of gross domestic product. The government borrowed 13.73 billion pounds ($18.29 bn) last month, 3.3bn pounds more than in August last year. A poll had pointed to a deficit of 12.4 bn pounds. The figures showed a rise in spending on social benefits and current expenditure, reflecting higher than usual inflation. Reeves has warned taxes will go up in her Oct 30 budget, but she has ruled out increases in rates of income, corporation and value-added taxes, leaving scant room for manoeuvre to improve public services and boost investment. “The August public finances figures highlight the challenging fiscal position facing the Chancellor ahead of her first budget,” said PwC economist Gora Suri. So far the government has borrowed 64.1 bn pounds over the first five months of the 2024-25 financial year — about six billion pounds more than the Office for Budget Responsibility’s forecast that it published in March. The deficit figures have come in higher than the OBR expected for each of the last four months.
1.This site adheres to industry standards, and any reposted articles will clearly indicate the author and source;
Related Articles
-
Lucky Gold Casino Slots 777: Your Gateway to Thrilling Gaming Adventures
2025-01-16 12:35
-
Sugar Bonanza Deluxe: A Sweet Journey into Candy Heaven
2025-01-16 12:28
-
Exploring the Excitement of the New Megaprize
2025-01-16 11:54
-
SevenSevenSeven: The Significance and Symbolism
2025-01-16 10:41
User Reviews
Recommended Reads
Hot Information
- Blaze Party: Ignite Your Celebrations with Unforgettable Experiences
- Airspin: Revolutionizing Air Travel with Innovative Technology
- Unleash the Thrills of Stake Online: Vampire Hunter
- National Casino: Your Ultimate Destination for Online Games
- Level 777: The Pinnacle of Gaming Achievement
- The Thrilling World of Casinos: A Gateway to Entertainment and Excitement
- Lotus Plus: Exploring the Intersection of Nature and Serenity
- Store77: A New Horizon in Online Shopping
- Exploring Online Casinos in Pakistan: A Guide to Gaming Legality and Options
Abont US
Follow our WhatasApp account to stay updated with the latest exciting content