Pre-Budget Report `fails to ease debt fears`
Worries about Britain`s debt were not laid to rest by Alistair Darling`s Pre-Budget Report (PBR) yesterday, it seems. Not surprisingly, the papers are full of stories about the PBR – and about the Chancellor`s plans to tackle the country`s debt problem. Apparently, analysts `were concerned about the scant detail on how he will cut Britain`s bulging budget deficit`, thisismoney.com states. As the Telegraph reports, Treasury figures show that `the accumulated stock of outstanding Government debt will go on rising for at least six years`, and that `in 2014/15, the national debt will be 1,473 billion. That is 77.7 per cent of gross domestic product`. And forbes.com reports that Moody`s and Standard & Poor`s (rating agencies) told Reuters that `The outlook for Britain`s sovereign debt has not been materially changed by the limited fiscal tightening in finance minister Alistair Darling`s pre-budget report on Wednesday`. Basically, it seems that many experts feel the PBR didn`t contain enough detail about how exactly the Government plans to cut Britain`s debt.
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