George Osborne, the chancellor, will be forced to admit that the black hole in UK public finances has increased by almost £30bn, requiring the government to impose years of further austerity on the public sector.
His revised forecasts, to be spelt out in his autumn statement on Tuesday, have resulted from the independent Office for Budget Responsibilityâs downgrading of its estimate of Britainâs economic potential over the next few years.
http://www.ft.com/intl/cms/s/0/ce631fb0-19e8-11e1-b9d7-00144feabdc0.html#axzz1ev8DMsC0
Call Mr. King and ask him to start the QE printers again...
His revised forecasts, to be spelt out in his autumn statement on Tuesday, have resulted from the independent Office for Budget Responsibilityâs downgrading of its estimate of Britainâs economic potential over the next few years.
http://www.ft.com/intl/cms/s/0/ce631fb0-19e8-11e1-b9d7-00144feabdc0.html#axzz1ev8DMsC0
Call Mr. King and ask him to start the QE printers again...