UK government deficit
After you look at the headline and before you read the article, how will this development affect government in the UK? How will it affect politics? and What facts do you want to know before you try to answer the first two questions?UK deficit rises steeply after surprise fall in tax receipts
A fall in income tax receipts sent Britain’s deficit spiralling to £12.1bn in August, the widest shortfall in government funding since 2012…
Dampening the euphoria last month about the first surplus for three years, the deficit represented a big jump on last year’s figure…
The combination of higher spending and lower tax receipts meant the cumulative deficit of £38.4bn this financial year is only marginally down on the £42.8bn at the same point last year.
Vicky Redwood, chief UK economist at Capital Economics, said the government was still on track to reduce its anual borrowing, but at a much slower pacer than previously forecast…
The Treasury said: “Britain’s hard work is paying off with cumulative borrowing £4.4bn lower than at this point last year. We have more than halved the deficit but there’s more to do with debt remaining higher than 80% of GDP.”…
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Labels: economy, government, politics, UK
posted by Ken Wedding @ 5:30 AM
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