|
Posted on 07.02.09 by Thomas L. Knapp
“The horrific public borrowing forecast for this year of £175 billion — and the consequential £220 billion of projected gilts issuance — are certainly concentrating minds, especially those of credit rating agencies. The reality is that, irrespective of whichever party wins the next General Election, major public expenditure cuts will be obligatory; various percentages are currently being bandied about. The key figure is the projected £671 billion of Total Managed Expenditure (TME) for 2009/10 — prior to interest payments. Future public finance policies should be based on implementing real cuts to that number.” (07/02/09) Link: http://tinyurl.com/mrbx2g Filed under: RRND Commentary and Twitter-Worthy | Report Bad Link Bookmark this post in Furl or Del.icio.us | |
advertisement
