Friday, September 18, 2009

Extreme Budget Deficit for UK

Today Great Britain released the highest level of budget deficit since 1993.

As the Office for National Statistics deliverd today, the 16.1 billion-pound ($26.3 billion) deficit in budget is the largest one especially compared with a deficit of 9.9 billion pounds in August 2008. Total current government receipts fell 9.1% from a year ago to 34.1 billion pounds, while total current spending inclined to 45.6 billion from 44.3 billion pounds.

These data may be considered as a significant impact on Gordon Brown`s positions before the elections. David Cameron, the leader of Conservative party accused Brown of misleading Parliament when Treasury documents showed that in April the Labour government was predictong it would have to curb departmental budgets by 9.3 percent in real terms by 2014 because of soaring welfare and debt-interest costs.
The GBP responded negatively falling to its lowest Forex rates.

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