Debt - Nation's debt a massive worry - 22/12/2008

The amount of debt that Britain is in should be cause of great concern for all according to the head of the international Monetary Fund.

Although the spate of lending from the government is considered to be the best option out of a poor choice, the organisation reiterate that the current financial plight can not be underestimated.

An industry expert stated, "I'm specially concerned by the fact that our forecast, already very dark... will be even darker if not enough fiscal stimulus is implemented."

They continued, ‘‘the measures announced by the G20 countries last month may not be sufficient to revive the global economy. It would take a spending stimulus equivalent to about 2 per cent of global Gross Domestic Product, or about 1.2 trillion, to make a real difference. The problem is that all the whole society is going to suffer.

 
 
Related News
  02/07/2009 - Government calls off new debt plan. The Scottish Government has backed down over changes that were planned for a programme...
01/07/2009 - Credit debt slows. It has been revealed that credit card debt is not rising as high as...
30/06/2009 - British debt could rise to £1,260 billion. A top think tank has released figures which claim that Britains collective debt will...
 
Related Guides
  Bankruptcy. A guide to Bankruptcy Bankruptcy How to deal with bankruptcy Definition of terms (BRO,...
Debt Management. A guide to Debt Help with Debt Problems Consolidating Debt Individual Voluntary Agreement (IVA)...
Individual Voluntary Agreement (IVA). A guide to Debt Help with Debt Problems Consolidating Debt Individual Voluntary Agreement (IVA)...
 
Related Articles
  One in 10 homeowners hit by negative equity. A ratings agency has revealed that negative equity figures have reached an all time...
'Generation crunch': 2009 students in more debt than any generation. The lives of the growing number of students, who are struggling to find work...
New report shows debt is on the increase. A new report idicates that the levels of personal debt among people seeking help...
Call our debt centre on:
0800 1777 197

Debt News
02/07/2009 - Government calls off new debt plan. The Scottish Government has backed down over changes that...
Read More
01/07/2009 - Credit debt slows. It has been revealed that credit card debt is...
Read More
30/06/2009 - British debt could rise to £1,260 billion. A top think tank has released figures which claim...
Read More
29/06/2009 - More Britons increasing spending. Fewer Britons are overspending or limiting their levels of...
Read More
More News >>