|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    19th of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Economy News feed Economy News

Debt News feed Debt News

Pension News feed Pensions News

All Financial News feed All Financial News

UK debt no worse than other countries

Bookmark and Share

by David Masters

Britain’s debt problem is on a par with that being faced by many other countries, an economic expert has claimed.

David Kern, economic adviser to the British Chamber of Commerce, said that while the UK’s deficit might be worse than other nations, its actual level of debt is far smaller.

“Although the deficit is bigger, we can afford to have a bigger deficit because we start from a lower level of debt,” he said.

Kern added that the UK’s position is not particularly bad compared to other European countries.

“My view is that [there] are problems but I wouldn’t have thought that they are more serious in the UK than in the Eurozone,” he said.

“They are problems which face many countries, every major country has a deficit problem and the fact that because of the recession, the deficit has ballooned enormously,” he added.

Kern made the comments following remarks from the European Commission that the UK could face financial difficulties because of government debt and age-related expenditure.

Discuss this in the Finance Markets forums

Story link: UK debt no worse than other countries

News posted: October 20, 2009

Financial Services:

Related financial stories to: UK debt no worse than other countries:
Previous: «
Next: »

Visited 2315 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , , , ,