European Commission sees galloping UK debt crisis
Britain’s public debt will explode to 180pc of GDP within a decade unless future governments take drastic measures to restore fiscal probity, according to a confidential study by the European Commission.
By Ambrose Evans-Pritchard
10 Sep 2009
The Treasury expects UK’s debt to peak at around 80pc, less than half the EU prediction
The projection is more than twice the level forecast by the UK Treasury, which expects the debt to peak at around 80pc before gradually falling as growth revives and tax revenues come back to life. Read the rest of this entry »
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