Thursday, February 18, 2010

British finances to be 'worse than Greek deficit'

  All is not too big to tumble and Greece is not the only European country with deficit worries.  You raise the taxes and increase the government employment rolls, your country too will be bankrupt and no one left to bail you out.

However, a steep decline in income tax and capital gains tax payments, coupled with a sharp rise in interest payments to cover the Government's debts, forced the Treasury to borrow money to balance its books. 


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