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Britain's budget choices: Where the axe should fall
Oleh:
The Economist
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 392 no. 8650 (Sep. 2009)
,
page 14.
Topik:
Britain
;
Fiscal Crises
;
GDP
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.57
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
AS PARTY conferences get into full swing in Britain this week, one issue will dominate politics through to the general election, due by early June 2010, and beyond. Britain’s public finances are so shot to pieces that politicians of all persuasions—even, reluctantly, Gordon Brown, the prime minister—now acknowledge the need for wholesale repair. The plans set out in the post-election budget for the next parliament will be a defining moment for any new government. Britain is no stranger to fiscal crises. They occurred under Labour in the mid-1970s and the Tories in the early 1990s. Yet the peak deficits that caused such alarm then (7% of GDP the first time and almost 8% the second) are dwarfed by this year’s. The Treasury forecast in April that public borrowing would exceed 12% of GDP, and it could be more. A continuing string of high deficits would give Britain the biggest debt build-up between 2007 and 2014 in the G7 economies (see article).
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