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The report says that sterling could continue to weaken until 2014, as foreign investors balk at the unprecedented size of the UK's budget deficit. Full Article at The Telegraph
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This erosion of trust in the political process will have powerful consequences. It is already causing politicians to formulate policies based on the assumption that the public thinks they are all slippery, self- serving liars. Full Article at Daily Express
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That was the message, though not in exactly those words, that George Osborne, the ambitious finance minister-in-waiting for Conservative Party, delivered to the Tory faithful here last week as he warned of Britain’s burgeoning debt burden. Full Article at The New York Times
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The British government will sell off the undersea Channel rail link, a bridge, and a betting company, among other assets, to raise Stg3 billion ($A5.25 billion) to help it manage its swelling debt, the prime minister will announce on Monday. Full Article at The Age
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Gordon Brown was warned last night to raise the retirement age above 65 and introduce NHS charges to tackle the soaring state deficit. Full Article at Rantburg
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We have to show that we are fair to all parts of society ... It would be impossible to cut taxes now while we are asking others to sacrifice so much.
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If you take the scenario that rates stay low, it probably would imply growth is going to be fairly weak in the U.K. and that sterling will be an under-performer
SOURCE: Houston Chronicle -
One of the reasons for looking at this issue through a review is there are complexities but I think the big step to take is the step we are taking today which is to say the previous agreement we all had that 2026 was the right year is not ambitious enough, we need to go further
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This is another one of those trade-offs any honest government has to confront
