Tag Archives: uk debt

World facing worst financial crisis in history, Bank of England Governor says (8)

The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night. Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee … Continue reading

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UK plunges into debt danger zone after Labour’s 10-year borrowing binge (3)

Britain’s debt levels are dangerously high and are damaging the economy, according to one of the world’s leading financial watchdogs. Debt in the UK grew faster than in any other major economy in the last decade to £180,000 per household. … Continue reading

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£62bn lost on City’s worst day for 3 years (3)

The stock market suffered its biggest collapse in three years yesterday as the global economy plunged deeper into crisis, wiping billions off the value of Britain’s leading companies. Every blue-chip firm listed in London fell in the worst single day … Continue reading

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Booker: Where Greece goes now, we will soon follow (3)

At last the penny seems to be dropping that the chaos mounting over Greece’s problems with the euro is by far the most serious crisis that the great European “project” has ever faced. As their sad, bewildered faces show whenever … Continue reading

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Thousands protest against looming cuts

Thousands of demonstrators rallied in London on Tuesday against harsh austerity measures being unveiled by the government this week in a bid to pay off a huge deficit. Union members and protesters waved placards saying “Don’t Break Britain” and “No … Continue reading

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The Pain of Cameron's 40 Percent Savings Plan

Prime Minister David Cameron means business. His chancellor of the exchequer, George Osborne, has asked most ministries to lop 40 percent off their budgets, meaning the coming years are likely to be filled with protest and pain. She is 84 … Continue reading

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George Osborne facing budget backlash

The backlash against the coalition’s £85bn emergency budget will begin today as business leaders, children’s charities and unions representing six million public employees come out against the planned tax rises, pay freezes and spending cuts, marking the end of the … Continue reading

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Darling wants 'very big apology' from David Cameron

Alistair Darling plans to demand a “very big apology” from the Conservatives if new Government borrowing figures released next week show the nation’s finances are in a better condition than expected. The former chancellor is confident that the borrowing forecast … Continue reading

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'We're bankrupt, broken and bust' (8)

David Cameron pledged to rebuild Britain after 13 years of Labour ‘recklessness’ today after unveiling a radical blueprint for sweeping political and social reform. The Prime Minister launched a savage attack on the previous administration, accusing them of leaving the … Continue reading

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First taste of pain (5)

First, the easy stuff — overt displays of the surprising joy of cohabitation in springtime. Now the tough stuff — forcing through billions of pounds of cuts while persuading voters that such medicine is good for them. Ministers may have … Continue reading

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‘There’s no money left’ (3)

Liam Byrne, the former Chief Secretary to the Treasury, last week wrote a letter for his successor – the Liberal Democrat David Laws – stating: “I’m afraid to tell you there’s no money left.” Speaking at a press conference yesterday, … Continue reading

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