| Online: | |
| Visits: | |
| Stories: |
| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Interest bill on UK’s £1.27 trillion debt to hit £1bn a week
Britain’s huge debt interest bill remains on course to hit £1bn a week this year, after official data showed the Goverment borrowed £3bn more in April than forecast by analysts.
Public sector net borrowing excluding one-off payments related to Royal Mail’s pension plan and quantitative easing gilt coupon transfers, stood at £11.5bn in April, according to the Office for National Statistics (ONS). This was £1.9bn higher than in April 2013, and much higher than the £8.4bn expected by analysts.
The larger-than-expected deficit helped to push up public sector net debt to £1.27 trillion in April, or 75.6pc of gross domestic product (GDP). The interest on Britain’s debt pile is expected to hit £52.1bn this year, according to projections by the Office for Budget Responsibility (OBR) – or the equivalent of £1bn a week …. http://www.telegraph.co.uk
Source: http://luismmx.blogspot.com/2015/04/interest-bill-on-uks-127-trillion-debt.html
