Thursday, May 21, 2009
Higher UK Interest rates on the horizon
BBC: Public borrowing hits new record
New government borrowing rose sharply in April, the Office for National Statistics (ONS) said. Public sector net borrowing rose to £8.46bn this April compared to £1.84bn in the same month last year. It was a new record for the public deficit in April, a month when government coffers are usually boosted by tax receipts. Significantly, ratings agency Standard & Poor's revised its outlook for the UK to negative due to borrowing worries.
Posted by jack c @ 11:06 AM (1224 views) Add Comment
12 Comments
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1. Little Professor said...
That's only a 360% increase in just one year - what are they making such a fuss about?!?
2. 51ck-6-51x said...
53%? My elbow [sic].
3. jack c said...
51ck-6-51x -
53% - I presume you are referring to "off balance sheet" items which if included would make figures significantly worse.
4. 51ck-6-51x said...
jack c.
- Indeed try a 120% ballpark.
5. jack c said...
51ck-6-51x
Agreed - how long before we go cap in hand to the IMF similar to the last labour gov during the 1970's?
6. 51ck-6-51x said...
Once all other avenues have been explored I feel.
7. jack c said...
51ck-6-51x
Agreed - IMF effectively lender of last resort
8. mark wadsworth said...
We can't go to the IMF, because we'll be jostling in the queue with just about every other country that's in the same mess, remembering that the IMF is funded by most countries roughly pro rata to their GDP.
Right now, no country has any spare cash, so there will be plenty asking to borrow and none willing to lend.
9. refusetobuy said...
which is why the government is doing everything it can to raise inflation. Printing money even when RPIX is at 2%
10. charlie brooker said...
@jack c
Martian Bank* can help consolidate all your planet's outgoings into one easy monthly payment.
11. charlie brooker said...
What's the betting First Contact will be from intergalactic loan sharks?
12. sold 2 rent 1 said...
charlie brooker,
"What's the betting First Contact will be from intergalactic loan sharks?"
Please bookmark this page for 2011, when the real Illuminati is revealed, after their earthling patsies have been disposed of.- LOL