Tag: public debt

France’s public debt soars to 80% of GDP

France’s public debt soars to 80% of GDP

Further concerns for euro zone debt was raised today after the national statistics bureau INSEE said France’s public debt rose to 80.3% of national output in the first quarter of the year. EU rules state that debt should not exceed 60% of GDP. According to INSEE, at the end of March, French gross public debt […]

June 30, 2010 More
Senior economists support delay in spending cuts

Senior economists support delay in spending cuts

Despite calls from leading business groups to take urgent action with regard to spending cuts, Chancellor Alistair Darling, has received support to delay cuts until 2011. According to David Kern at the British Chambers of Commerce, the UK’s credit rating is being put at risk by the Government’s failure to act more quickly. However, over […]

February 19, 2010 More
UK’s public sector borrowing continues to soar

UK’s public sector borrowing continues to soar

The Office for National Statistics (ONS) has today revealed that the UK’s public sector net borrowing hit a record high of £20.3 billion in November. While the figure was less than the £23 billion analysts had expected, it was still the highest for any month since the ONS began gathering data over 16 years ago. […]

December 18, 2009 More
Bank of Japan keeps interest rates on hold to fight deflation

Bank of Japan keeps interest rates on hold to fight deflation

The Bank of Japan has again elected to keep interest rates on hold at the low level of 0.1%, as widely expected. It is anticipated that the Bank will leave rates at the low rate until around 2012 as a result of deflationary pressures. The world’s no.2 economy exited recession in the second quarter of […]

Government orders £16bn asset sale to reduce public debt

Government orders £16bn asset sale to reduce public debt

In an effort to tackle Britain’s spiralling public debt, the Government has today unveiled proposals that will see it raise £16 billion via asset sales. In order to reduce the budget deficit, which is set to hit a record £220 billion (the equivalent of 12% of GDP), the Government has taken action by ordering sale […]

October 12, 2009 More
Public borrowing soars to £20bn

Public borrowing soars to £20bn

The Office for National Statistics (ONS) has today revealed that UK public sector borrowing has soared to the highest level since ONS records began over 15 years ago. Public sector net borrowing reached a record level of £19.9 billion in May and has already hit £30.5 billion for this financial year – more than double […]

June 18, 2009 More