Civilians must be ready to fight because Britain's military is so small, warn peers
________
UK debt level jumps to 60-year high – data
Government borrowing has reached 100% of the country's GDP, according to the Office for National Statistics
September 20, 2024 | RT
The UK's national debt stands at 100% of the country's annual economic output and is at its highest level since the 1960s, the Office for National Statistics (ONS) revealed on Friday.
Government borrowing surged to £13.7 billion ($18.2 billion) in August, equaling to the annual value of total economic production, according to the ONS.
"Borrowing was up by over £3 billion last month on 2023's figure, and was the third highest August borrowing on record," ONS chief economist Grant Fitzner said.
The data reflects the alarming state of public finances left by the Conservatives, according to Treasury Chief Secretary Darren Jones. He warned that the Labor Party would have to make "tough decisions" to rebuild the economy.
"When we came into office, we inherited an economy that wasn’t working for working people. Today’s data shows the highest August borrowing on record, outside the pandemic. Debt is 100% of GDP, the highest level since the 1960s," he said.
Government debt ballooned during the global financial crisis in 2008 and then again during the Covid-19 pandemic. Weak economic growth since then has also contributed to the increase in the deficit.
READ MORE: German central bank issues warning on economy
The UK's fiscal position remains "challenging" and could "deteriorate further over the remainder of the year," according to Matt Swannell, the chief economic adviser to the EY Item Club.
“The government will likely have to increase spending over the next few months, due to a combination of accepting the recommendations for higher pay increases from public sector pay boards and non-labor cost overruns across a range of government departments,” he said.
Please go to RT to continue reading.
________
Here's the British army training to fight Russia and China and whoever else:
Here is what the future US president wants to do:
This is how the US and the UK prosecute war. Attack their allies in Europe with acts of industrial terrorism causing Germany's industries to go flatline (see below):
And for the Israelis? Just kill everything. If they can't be killed then remove them:
Germany is finished. It's over. About the only thing Germany has going for it at this point are brothels staffed with Ukrainian prostitutes:
Wow. Germany's WKW Automotive, which makes decorations and spare parts for VW, Mercedes and BMW cars had declared bankruptcy after 84 years in business. 4,000 people laid off. Part of record wave of insolvencies and company collapses in Germany. And it's going to get worse!!! pic.twitter.com/UnkH7CoweD
— Kit Klarenberg 🔻🔻🔻🔻🔻 (@KitKlarenberg) September 26, 2024
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.