Public borrowing higher than expected, says chancellor
Chancellor Alistair Darling has admitted that public borrowing is to be higher than previously anticipated during 2009.
In his Pre-Budget Report, Mr Darling told the House of Commons that the figure will be £178 billion, up from the £175 billion that had been predicted.
He also raised the forecast for the 2010-11 financial year by a further £3 billion and announced a raft of changes to combat this, some of which may affect those with large levels of public wealth.
These include a 50 per cent tax on bankers’ bonuses that are over £25,000, as well as a 0.5 per cent rise in National Insurance from April 2011.
Commenting on the announcements, senior analyst at currency exchange firm Caxton FX Duncan Higgins said that they have ’done little’ to quell worries about the state of the UK’s finances.
’With increased borrowing planned for next year, concerns will linger over the possibility that the UK’s triple-A rating may come under threat,’ he remarked.
Related news
Wednesday 30 September 09
Wednesday 30 September 09
Wednesday 30 September 09
Wednesday 30 September 09
Wednesday 23 September 09
Wednesday 02 September 09
|
News categories
|