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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 remaining pits produced 17.2 million tonnes of oil equivalent in 2003, making the UK the 15th largest coal producing nation, compared with 4th in 1981, according to the BP Statistical Review of World Energy 2004. In 2021, the country had seven coal mines in operation, employing just over 6,000 people. [9]
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 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 ...
In October 2021, the UK government's Office of Budget Responsibility calculated that Brexit would cost 4% of GDP per annum over the long term. [51] 4% of 2021 UK GDP is the equivalent of a £32 billion cost per annum to the UK taxpayer. [52] After rebates, the UK's EU membership fee in 2018 was £13.2 billion. [53]
Economists had forecast the trade deficit would ease to $75.0 billion. Imports dropped 4.0%, the biggest decrease since November 2022, to $339.6 billion. Goods imports tumbled 5.5% to $269.3 billion.
The OBR produced its first forecast for public finances shortly before the June 2010 budget with the second at the June budget incorporating the impact of newly announced measures. Colin Talbot , Chair of Public Policy and Management at Manchester Business School and Treasury adviser on public spending, questioned the credibility of the new ...