UK faces 30 billion GBP bigger financial blackhole

Discussion in 'Wall St. News' started by ASusilovic, Nov 28, 2011.

  1. George Osborne, the chancellor, will be forced to admit that the black hole in UK public finances has increased by almost £30bn, requiring the government to impose years of further austerity on the public sector.

    His revised forecasts, to be spelt out in his autumn statement on Tuesday, have resulted from the independent Office for Budget Responsibility’s downgrading of its estimate of Britain’s economic potential over the next few years.

    Call Mr. King and ask him to start the QE printers again...