Business Advice for all UK firms from starting a business to flotation
UK debt grows to £799bn
The debt owed by the UK government has risen to a record figure of £799bn - 56% of the UK's GDP - according to the Office for National Statistics.
New borrowing in June by the government amounted to £13bn, almost twice the amount that was borrowed in the same period last year.
Although public borrowing is in line with chancellor Alistair Darling's forecast, business groups have warned that the government must take action to reign in the spiralling debt.
"It would be wrong to tighten policy while the recession continues, but maintaining Britain's international credibility requires a robust plan for restoring our public finances over the medium-term," said David Kern, chief economist at the British Chambers of Commerce.
Post Date: July 21st, 2009
New borrowing in June by the government amounted to £13bn, almost twice the amount that was borrowed in the same period last year.
Although public borrowing is in line with chancellor Alistair Darling's forecast, business groups have warned that the government must take action to reign in the spiralling debt.
"It would be wrong to tighten policy while the recession continues, but maintaining Britain's international credibility requires a robust plan for restoring our public finances over the medium-term," said David Kern, chief economist at the British Chambers of Commerce.
»
- Login or register to post comments
- Printer friendly version
Post Date: July 21st, 2009
.
.
Accounting Advice | Banking & Finance | Business Continuity | Entrepreneurs | HR/Payroll Advice Insurance Advice | International Trade
Internet Advice I.T. Advice | Legal Advice | Marketing Advice | Office Management | Pensions & Benefits Property/Relocation | Recruitment Advice
Starting a Business | Telecommunications | Training/Education Travel Advice | Utilities Advice | Vehicles
copyright © 1998-2018 Newbusiness.
Homepage | Terms & Conditions | Copyright & Trademarks | Privacy Policy | Sitemail & Forum Policy | Sitemap