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Public borrowing hits new record as cuts loom

first_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com whatsapp Show Comments ▼ John Dunne Wednesday 20 October 2010 4:51 am Public borrowing hits new record as cuts loom center_img Public borrowing hit a record high for a month of September, the Office for National Statistics, as chancellor George Osborne prepared to deliver an announcement of £80bn of spending cuts.The government’s preferred measure of borrowing, which excludes financial sector interventions, also hit its highest for a month of September since records began in 1993.The total public sector net debt as a percentage of GDP rose to a record 64.6 per cent, the highest for any month since records began in 1993.The government is likely to seize the figures as evidence of the urgent need for fiscal tightening, despite concerns from opposition politicians and some economists that it could tip Britain back into recession.The ONS said that public sector net borrowing rose to £15.607bn last month from £14.806bn a year ago versus economists’ expectations for a fall to £14.2bn.For the financial year to date, PSNB is running at £70.156bn, down from £75.145bn for the April-September period last year.Excluding financial sector interventions, September’s PSNB was 16.166 billion pounds, also higher than the same month last year.For the year to date, this came to £73.548bn compared to £77.376bn a year earlier, and the Office for Budget Responsibility forecasts it will hit £149bn his fiscal year. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Share whatsapp Tags: NULLlast_img read more

Economic sentiment improves

first_img KCS-content whatsapp Sunday 14 November 2010 10:30 pm Economic sentiment improves THE first quarters of next year will bring no relief from the UK’s economic slowdown, according to a business trends report released today by accountancy firm BDO. But the report’s optimism index suggests that sentiment is in slightly better shape than it was during the summer – although it still forecasts a contraction in the economy over the next coupe of quarters. The October index comes in at 91.9, below the 95 mark that would suggest flat growth, but it is nonetheless marginally up from its September score of 91.6. And it is significantly above its low ebb between April and August.BDO partner Peter Hemington said: “The slight increase is, we hope, a sign that the rot may have stopped.”He added, however, that “we would urge caution”: the report’s output index fell under the break-even 95 mark for the first time since June 2009, coming to 93.8 in October, down from 95.9 in September. A separate survey confirms the gloomy outlook into 2011: the Lloyds TSB corporate markets barometer shows that in October only 46 per cent of firms were more optimistic about the economy now than they were three months ago. 35 per cent said they were more pessimistic, giving an overall score of 11 per cent. FAST FACTS | BDO BUSINESS TRENDS● BDO’s indices are compiled using all the major UK business surveys, covering 11,000 respondents in firms employing 5m people.● The break-even point is 95. Below this score suggests expectation of a contraction. Show Comments ▼ whatsapp Share More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.com Tags: NULLlast_img read more