'Bail-out of banks will raise UK debt' The World Today.GORDON BROWN'S bank bail-out plan could drive the true level of government debt to nearly pounds 100,000 for every household, it was claimed today. The state is set to owe a total of pounds 2,354 billion - some 61 per cent more than the UK's annual GDP GDP (guanosine diphosphate): see guanine. . The estimates were produced by Tory MP Brooks Newmark in a study for right-leaning think-tank the Centre for Policy Studies. He claimed that, including PFI PFI Pay for Inclusion (web search engines) PFI Private Finance Initiative PFI Private Finance Initiative (UK) PFI Prison Fellowship International PFI Port Fuel Injection (engines) projects, unfunded public sector pension liabilities, Network Rail debt and the nationalisation of Bradford and Bingley, "real" government debt is pounds 1,854billion at present. However, the Prime Minister (left) has insisted that the UK's overall debt levels are lower than in most other industrialised Adj. 1. industrialised - made industrial; converted to industrialism; "industrialized areas" industrialized industrial - having highly developed industries; "the industrial revolution"; "an industrial nation" nations, and the government will borrow more to stave off the effects of the economic downturn. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion