Monday, Jun 15, 2009
U.K. May Sell 5 Billion Pounds of Gilts Through Banks
Bloomberg: Budget short 12.4% of GDP
The UK budget shortfall in the year through March 2010 will reach 12.4 percent of gross domestic product, the most among the Group of 20 nations.
“I’ve never seen a level of government debt quite like this, not even in the worst days of the 1970s,” said Stephen Lewis, chief economist at Monument Securities in London. “Costs of borrowing will have to rise. The Debt Management Office will need all the help it can get to take these bonds to the market successfully. It’s a stiff task.”
Posted by c'mon correction @ 06:13 PM (652 views) Add Comment
1 Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. bystander said...
Anyone else think it a bit of a coincidence that economists and government backed quangoes have been shouting about the great state the UK is in in the same week that we try to sell £5billion government bonds. Complicite propoganda, surely not. Expect the real figures to come out when these bond sales have taken place and Crash has his cash.