{"id":1036,"date":"2010-02-24T01:05:45","date_gmt":"2010-02-24T01:05:45","guid":{"rendered":"https:\/\/www.paperstone.co.uk\/Wordpress\/?p=1036"},"modified":"2016-01-21T12:00:10","modified_gmt":"2016-01-21T12:00:10","slug":"deficit_gloom","status":"publish","type":"post","link":"https:\/\/www.paperstone.co.uk\/News\/articles\/deficit_gloom","title":{"rendered":"Deficit Gloom"},"content":{"rendered":"<p>Prospects for continued economic recovery looked a bit bleaker as it emerged that the Treasury borrowed another $4.3 billion last month, the first time Britain has been in the red in January since records began in 1993. Economists had expected a surplus of &pound;2.8 billion in a month that should be bolstered by tax receipts.<\/p>\n<p>The Treasury insisted it is still on course to borrow a total of &pound;178 billion for the financial year, 12.6 percent of GDP, but more pessimistic economists predicted that borrowing could exceed Greece&#8217;s  deficit of 12.7 percent and that another quarter of negative growth is possible.<\/p>\n<p>Britain&#8217;s national debt now stands at &pound;848,500,000,000. More positively for the Government, 60 leading economists have backed Alistair Darling&rsquo;s decision to delay spending cuts until 2011.<\/p>\n<p>&nbsp;<\/p>\n<p align=\"center\">* * *<\/p>\n<p>&nbsp;<\/p>\n<p>It&#8217;s worth reminding ourselves that the current global economic crisis was not totally unforeseen. Have a look at <i>The Times<\/i>&#8216; Money Central October 2008 list of <a target=\"_blank\" href=\"http:\/\/timesbusiness.typepad.com\/money_weblog\/2008\/10\/10-people-who-p.html\">Ten people who predicted the financial meltdown<\/a>, from Vince Cable and Ron Paul to 1920s Marxist economist Nikolai Kondratiev.<\/p>\n<p>Money Central also listed <a target=\"_blank\" href=\"http:\/\/timesbusiness.typepad.com\/money_weblog\/2008\/10\/the-10-biggest.html\">The 10 biggest winners from the financial crisis<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p align=\"center\">* * *<\/p>\n<p>&nbsp;<\/p>\n<p>Keep your own financial house in order with an <a href=\"https:\/\/www.paperstone.co.uk\/books-pads\/account-books\/l-43\">account book<\/a> from <a href=\"https:\/\/www.paperstone.co.uk\/\">Paperstone<\/a>. We also stock a <a href=\"https:\/\/www.paperstone.co.uk\/office-machines-supplies\/calculators\/l-3474\">wide range of calculators<\/a>.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prospects for continued economic recovery looked a bit bleaker as it emerged that the Treasury borrowed another $4.3 billion last month, the first time Britain has been in the red in January since records began in 1993. Economists had expected a surplus of &pound;2.8 billion in a month that should be bolstered by tax receipts. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1036","post","type-post","status-publish","format-standard","hentry","category-books_and_pads"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Deficit Gloom<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.paperstone.co.uk\/News\/articles\/deficit_gloom\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deficit Gloom\" \/>\n<meta property=\"og:description\" content=\"Prospects for continued economic recovery looked a bit bleaker as it emerged that the Treasury borrowed another $4.3 billion last month, the first time Britain has been in the red in January since records began in 1993. Economists had expected a surplus of &pound;2.8 billion in a month that should be bolstered by tax receipts. 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