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In 2017, due to the Government's budget deficit , the national debt increased by £46 billion. [3] The Cameron–Clegg coalition government in 2010 planned that they would eliminate the deficit by the 2015/16 financial year. [4] However, by 2014 they admitted that the structural deficit would not be eliminated until the financial year 2017/18. [5]
The UK had been relying on a surplus of inward investment to make up for its long-term current account deficit. [244] In April 2021, Lord Grimstone established the UK Investment Council to enhance UK inward investment and inform the trade policy of the UK by providing a forum for global investors to offer high-level advice to the government ...
The office made adjustments to its forecasts in the week before the June 2010 budget. These were thought to be politically favourable to the coalition government and so cast doubt on its independence. [33] In July 2010 it was announced that Budd would not continue in the role after his initial 3-month contract expired.
The Office for National Statistics said the UK’s total trade deficit fell to £7.8bn in July from £11.4bn in June. UK trade gap narrows but set to soar to ‘enormous proportions’, experts ...
The UK's external deficit is a worry and there are questions over the country's competitiveness long-term, although a resilient labour market is a positive, senior analysts at S&P Global said on ...
The UK fiscal year ends on 5 April each year. The financial year ends on 31 March of each year. Thus, the UK budget for financial year 2021 runs from 1 April 2021 to 31 March 2022 and is often referred to as 2021–22. Historically, the budget was usually released in March, less than one month before the beginning of the new fiscal year.
The pharmaceutical industry employs around 67,000 people in the UK and in 2007 contributed £8.4 billion to the UK's GDP and invested a total of £3.9 billion in research and development. [ 113 ] [ 114 ] In 2007 exports of pharmaceutical products from the UK totalled £14.6 billion, creating a trade surplus in pharmaceutical products of £4.3 ...
A separate report from the Commerce Department's Bureau of Economic Analysis showed the trade deficit contracted 11.9% to $73.8 billion in October as imports declined by the most since late 2022 ...