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. Portugal has become the latest bailed-out eurozone country to receive a clean bill of health from the European Commission after its budget deficit fell to 2% of GDP last year. ... [Read full article on BBC ]
Monday 22nd of May 2017 11:27:55 AM
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.... That gamble is necessary because Labour’s tax increases only cover day-to-day spending and not investment in public infrastructure of £25bn a year. Labour believes that the failure of the Conservatives to get the budget deficit down despite year after year of austerity has made it possible to make the case for a different approach under which McDonnell would take advantage of low interest rates to borrow to invest. ... [Read full article on Guardian ]
Tuesday 16th of May 2017 12:47:25 PM
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Latest Finance News related to Budget Deficit

Portugal back to fiscal health, says EU image
Source : BBC [Read Article] Monday 22nd of May 2017 11:27:55 AM
. Portugal has become the latest bailed-out eurozone country to receive a clean bill of health from the European Commission after its budget deficit fell to 2% of GDP last year. ...
Labour gambles on tax and spend – but will the public back it? | Larry Elliott image
.... That gamble is necessary because Labour’s tax increases only cover day-to-day spending and not investment in public infrastructure of £25bn a year. Labour believes that the failure of the Conservatives to get the budget deficit down despite year after year of austerity has made it possible to make the case for a different approach under which McDonnell would take advantage of low interest rates to borrow to invest. ...
Theresa May will cause more poverty than Thatcher, Gordon Brown warns image
....Household budgets of less well-off families have received a double blow this year. Wages have failed to keep pace with prices, while cuts to tax credits have come into force after being announced by George Osborne in 2015 as part of a renewed attempt to reduce the size of Britain’s budget deficit. ...
Macronomics image
Source : BBC [Read Article] Monday 8th of May 2017 07:46:22 AM
.... The economy has been creating jobs at the fastest pace in more than a decade. The European Union requires members to make sure their budget deficit (essentially the difference between what it brings in through revenues e. ...
UK needs £15bn in cuts or tax rises to clear deficit by 2022, says IFS image
. It will take an extra £15bn of spending cuts or tax rises to eliminate the budget deficit by the time of the 2022 election, a leading thinktank has said as it laid bare the damaging legacy of the financial crisison UK living standards and public finances. ...
Trump seeks tax windfall for business image
Source : BBC [Read Article] Wednesday 26th of April 2017 12:20:53 PM
.... . While conservatives traditionally have never met a tax cut they didn't like, many in Congress have taken strong positions in recent years against adding to the budget deficit. ...
Saudi Arabia's King Salman reverses public sector pay cuts image
Source : BBC [Read Article] Sunday 23rd of April 2017 06:39:53 AM
....Wage increases for lower-ranking civil servants were suspended, and overtime payments and annual leave capped. Salaries and allowances accounted for 45% of government spending in 2015, or $128bn (£99bn), and contributed to a record budget deficit of $98bn. ...
Philip Hammond signals ditching of Tory 'no tax rise' pledge image
Source : Guardian [Read Article] Friday 21st of April 2017 12:58:04 PM
....Philip Hammond has given a strong hint that the Conservatives may ditch their pledge not to raise VAT, national insurance or income tax, saying the flagship 2015 policy had constrained his ability to manage the economy. The chancellor, who was recently forced to drop an attempt to raise national insurance for the self-employed, suggested the tax lock had hampered the government’s drive to reduce Britain’s budget deficit. ...
Trump tax cut plan will be as big a flop as failed healthcare reforms | Nouriel Roubini image
....Now Trump and congressional Republicans are pursuing tax reform, starting with corporate taxes and then moving on to personal income taxes, as if this will be any easier. It won’t be, not least because the Republicans’ initial proposals would add trillions of dollars to budget deficits, and funnel more than 99% of the benefits to the top 1% of the income distribution. ...
Wall Street’s love affair with Trump cools as healthcare bill sows welcome doubts image
....The second is that the president’s ambitions may well have to be scaled down. Trump wants to use the savings from replacing Obamacare with something cheaper to fund his fiscal boost, but the Congressional Budget Office said last week that the impact on the budget deficit would be substantially less than originally estimated: a reduction of $150bn (£120bn), rather than $336bn. ...
Government borrowing falls in February image
Source : BBC [Read Article] Tuesday 21st of March 2017 11:02:34 AM
.... . "Furthermore, an appreciable budget deficit is still seen existing in 2021-22 so there is still work to be done then on getting the public finances back to full health. ...
Lord King: Scotland 'could be independent' image
Source : BBC [Read Article] Monday 20th of March 2017 09:34:16 PM
.... . "And it would be a challenge to borrow on the international market if Scotland decided to run a large budget deficit. ...
No major currency problem for Scotland, says Mervyn King image
Source : BBC [Read Article] Monday 20th of March 2017 09:16:47 PM
....The former governor of the Bank of England, Lord Mervyn King, says "Scotland certainly could be an independent country" and he does not see any major problems in terms of its currency. Speaking to BBC Newsnight, Lord King said the cost of borrowing for Scotland would go up if it decided to run a large budget deficit. ...
Aberdeen wrestles with hard choices as independence looms again image
Source : Guardian [Read Article] Saturday 18th of March 2017 03:59:43 PM
.... In that time the UK’s GDP growth has outstripped that of most of the developed world. That’s a blow to Holyrood, which is struggling with a budget deficit nearing 10% before Nicola Sturgeon even thinks about the implications of leaving the UK. ...
Hammond's NICs U-turn is a political disaster for the government | Larry Elliott image
....That said, there was no real need for Hammond to announce the NICs change. It was going to raise a tiny amount of money – only about £2bn over the course of this parliament – and was set to make no noticeable difference to the size of the budget deficit. ...
The Scottish economy has strengths – but could it make a success of independence? | Larry Elliott image
.... To make the sums add up, those advocating independence assumed an oil price of $100 a barrel, double today’s level. According to estimates made last year by the Institute for Fiscal Studies, Scotland will have a budget deficit of more than 9% of GDP this year, more than three times as big as that for the UK. ...
UK government surplus gives Philip Hammond pre-budget boost image
Source : Guardian [Read Article] Tuesday 21st of February 2017 01:33:43 PM
....“This gives the chancellor a bit more room for manoeuvre in his final spring budget next month. If the UK economy remains stable over the transition period once article 50 is triggered, Hammond could meet his objective to reduce the budget deficit below 2% GDP by 2020-21, while offering a few small giveaways. ...
A stock market crash is a way off, but this boom will turn to bust | Larry Elliott image
.... That means stock market records will continue to be broken over the months ahead. Until the moment comes when traders get spooked by rising interest rates, burgeoning budget deficits, protectionism or a combination of all three. ...
Saudi Arabia signals end of tax-free living as oil revenues slump image
Source : Guardian [Read Article] Tuesday 31st of January 2017 01:51:14 AM
....Saudi Arabia is the world’s biggest oil exporter and the largest economy in the Arab region. It froze major building projects, cut cabinet ministers’ salaries and imposed a wage freeze on civil servants to cope with last year’s record budget deficit of $97bn. ...
Retreat from globalisation will destabilise the world economy | Mohamed El-Erian image
....First, because they issue the world’s main reserve currencies, the advanced economies get to exchange bits of paper that they printed for goods and services produced by others. Second, for most global investors, these economies’ bonds are a quasi-automatic component of portfolio allocations, so their governments’ budget deficits are financed in part by other countries’ savings. ...
Brexit has allowed the banks to get off Britain's naughty step image
Source : Guardian [Read Article] Sunday 29th of January 2017 04:00:28 PM
....A forthcoming paper for the Robin Hood Tax campaign by the former City banker Avinash Persaud says the government could build on an existing financial transaction tax – stamp duty on share trades – to create a more broadly-based levy that would raise an additional £5bn a year. For a Treasury still running a hefty budget deficit, that is a tidy sum. ...
Trump is a conservative – but that won't stop him sending deficits soaring image
....The fact is that whenever one party has firm control of government, it has a powerful incentive to borrow to finance its priorities, knowing that it won’t necessarily be the one to foot the bill. So expect US President-elect Donald Trump’s administration, conservative or not, to make aggressive use of budget deficits to fund its priorities for taxes and spending. ...
Rising inequality threatens world economy, says WEF image
Source : Guardian [Read Article] Wednesday 11th of January 2017 09:26:38 AM
.... The rest of the developed and much of the developing world is heading in the same direction. To fund welfare programmes, including a long-term-care insurance begun in 2000 that ranks as one of the most generous in the world, Tokyo has run up a budget deficit of 240%. ...
Government borrowing higher than expected in November image
Source : Guardian [Read Article] Wednesday 21st of December 2016 01:23:07 PM
....Official figures showed that income tax receipts increased by only 1. 1%, after several years of consistent 3%-plus growth, to prevent the UK’s budget deficit falling at the pace forecast by City analysts. ...
Government borrowing falls less than expected in November image
Source : BBC [Read Article] Wednesday 21st of December 2016 10:21:45 AM
.... . Chancellor Philip Hammond said at the time the government was aiming for a higher budget deficit of £68. ...
US could wait until next summer to raise interest rates, say economists image
Source : Guardian [Read Article] Sunday 18th of December 2016 05:58:02 PM
....The New York Dow Jones index soared last week to within 160 points of a record 20,000 amid forecasts that a huge stimulus package in the first year of Donald Trump’s presidency would trigger an economic boom. While Trump has promised to cut taxes affecting middle-income earners and pump funds into major infrastructure projects, many economists are wary that Congress could delay or block the moves, fearing a steep rise in the government’s budget deficit. ...
Savers are slowly choking off the life of the world economy image
Source : Guardian [Read Article] Sunday 18th of December 2016 07:00:44 AM
.... But middle-income families can only save because they don’t pay enough tax for officials in Tokyo to provide basic services. Every year the Japanese government runs a 10% budget deficit, such that its accumulated debt is worth almost 250% of GDP. ...
Keynesian economics: is it time for the theory to rise from the dead? image
Source : Guardian [Read Article] Sunday 11th of December 2016 12:52:51 PM
.... When animal spirits are low, governments should step in with public investment. They should do this even at the cost of a higher budget deficit, because the higher growth that will result will mean the investment more than pays for itself. ...
With its deal on barrel quotas, Opec is back on the radar – for now image
Source : Guardian [Read Article] Wednesday 30th of November 2016 07:27:03 PM
.... A sub-$40 price, if sustained over many years, could have worked. But the Saudis, facing an enormous budget deficit, have blinked first. ...
10 economic consequences of Donald Trump's election win image
Source : Guardian [Read Article] Monday 28th of November 2016 01:18:08 PM
.... The Republicans’ hegemony will enable easy agreement on tax cuts financed mainly by higher public borrowing, rather than by facing down special interest lobbies’ resistance to the elimination of exemptions and loopholes. These tax reforms will create even bigger budget deficits, which in turn will stimulate more growth and inflation. ...
OK, no workers in the boardroom: but May must be strong on executive pay image
Source : Guardian [Read Article] Sunday 27th of November 2016 07:00:53 AM
....A full overhaul would be the right thing to do. Setting relief at 20% for everyone would save £15bn a year – serious money in the context of a budget deficit of £68bn. ...
REVEALED: British workers' 'DREADFUL' decade of ZERO wage growth image
Source : Daily Express [Read Article] Thursday 24th of November 2016 03:58:00 PM
....Britain is now in line for "an additional dollop of austerity" in the 2020s, the think tank warned. It comes after Chancellor Philip Hammond said in the 2016 Autumn Statement that he would target eliminating the budget deficit in the next Parliament. ...
Brexit will blow £59bn hole in public finances, admits Hammond image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 08:39:09 PM
....With the public finances expected to deteriorate, Hammond could have made emergency spending cuts; but instead he formally abandoned George Osborne’s target of dragging the public finances back into the black by the end of this parliament in 2019-20, and introduced new, looser tax and spending rules. Under the new framework, the budget deficit is now not expected to be eliminated until some time in the next parliament. ...
Autumn statement more Fifty Shades of Grey than Pride and Prejudice image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 07:47:36 PM
.... There has been insufficient investment in research and development, in transport infrastructure, in superfast broadband and in housing. These deficiencies explain why the government has struggled in vain to eliminate the record peacetime budget deficit it inherited from Labour in 2010 and why the UK’s balance of payments deficit is running at 6% of national output. ...
Government borrowing falls on record October tax take image
Source : BBC [Read Article] Tuesday 22nd of November 2016 10:38:31 AM
...." . British Chambers of Commerce (BCC) head of economics Suren Thiru also said the size of the UK's budget deficit could limit the scope for growth-boosting measures in the Autumn Statement. ...
Donald Trump's economic policies could go badly wrong – but not soon enough image
Source : Guardian [Read Article] Saturday 19th of November 2016 04:04:24 PM
....Put simply, Trumponomics is a gamble on deficit spending. Tax cuts and spending increases will lead to bigger budget deficits – a doubling from 3% to 6% of GDP, according to independent estimates – and an increase in the national debt, which is already above 100% of national output. ...
Fuel prices are 'beyond reach' of many Zambians image
Source : BBC [Read Article] Friday 18th of November 2016 05:35:12 PM
....In Zambia, fuel subsidies have been cut and the cost of transport has risen by 25%. The move is part of the government's attempts to reduce its ballooning budget deficit and, it is also believed, part of the groundwork necessary to qualify for a bailout loan from the International Monetary Fund. ...
Justin Welby to help UK thinktank build vision of post-Brexit economy image
Source : Guardian [Read Article] Thursday 17th of November 2016 12:01:33 AM
....Justin Welby will join other leading figures including the general secretary of the TUC, Frances O’Grady, and the chairman of the John Lewis Partnership, Sir Charlie Mayfield, on the Institute for Public Policy Research (IPPR) programme that will seek remedies for six key UK weaknesses. Launching its commission on Thursday, the IPPR said the apparent success of the economy masked fundamental problems: weak investment compared with rival countries; a huge trade deficit; a budget deficit that would get bigger as the population ages; the capture of the fruits of growth by a small minority; the gap between the south-east and the rest of the country; and poor progress in meeting the UK’s climate change ambitions. ...
EU warns eight nations on budget deficit image
Source : BBC [Read Article] Wednesday 16th of November 2016 11:57:40 AM
. The European Commission has warned that eight eurozone countries, including Italy, are at risk of breaking EU rules because of excessive budget deficits. ...
UK slowdown will give chancellor little scope for tax cuts, says PwC image
Source : Guardian [Read Article] Tuesday 15th of November 2016 12:01:01 AM
.... As a result, it warns public borrowing could significantly overshoot forecasts from the fiscal watchdog, the Office for Budget Responsibility (OBR), made before the referendum. PwC projects a budget deficit – the gap between what the government spends and receives – of about £67bn this year, more than £10bn above the OBR forecast, and this would only fall to around £18bn by 2019/20 on unchanged fiscal policies, rather than moving into surplus as the OBR forecast in March. ...
Bond bubble could burst with explosive impact image
Source : Guardian [Read Article] Monday 14th of November 2016 08:06:30 PM
....But, as JP Morgan’s chief global strategist David Kelly argues, the idea that the US is massively underperforming its potential for growth and requires a big fiscal stimulus is wrong. The US economy is at virtual full employment and the federal budget deficit is already rising. ...
The Oval Office will tame President Donald Trump image
Source : Guardian [Read Article] Friday 11th of November 2016 10:48:51 AM
.... He would also build his promised US-Mexico border wall; deport millions of undocumented workers; restrict H1B visas for the skilled workers needed in the tech sector; and fully repeal the Affordable Care Act (Obamacare), which would leave millions of people without health insurance. Overall, a radical Trump would significantly increase the US budget deficit. ...
Basic income for all: a 500-year-old idea whose time has come? image
Source : Guardian [Read Article] Thursday 10th of November 2016 11:28:56 PM
....To Megalogenis, the global financial crisis should be recognised as the day the future began: “The last few years in politics have diverted us from the great lesson of 2008-9. We now have a federal government looking at a structural budget deficit, a Reserve Bank that has lost its discretion on the price of money because global interest rates are now so low and a wages system not rewarding the worker for what the open market has demanded they do for the last 20 years, which is adapt – a model that’s broken but exhausted. ...
US voters chose candidate with a more radical approach to economy image
Source : Guardian [Read Article] Wednesday 9th of November 2016 07:53:12 PM
.... Hillary Clinton’s proposals were cautious, costed and conservative. By contrast, the president-elect is gambling that he can shift the US out of its post-financial crisis torpor through a mixture of tax cuts and spending increases even though they run the risk of higher inflation and a bigger budget deficit. ...
Globalisation backlash enters new phase with Trump win image
Source : Guardian [Read Article] Wednesday 9th of November 2016 10:09:27 AM
.... US borrowing costs are likely to stay lower for longer. Trump’s views about fiscal policy – tax, spending and the budget deficit – are not entirely clear, but he seems to want lower taxes, higher spending on America’s clapped-out infrastructure and defence, and less federal borrowing. ...
£25bn hole will limit Philip Hammond's options in autumn statement, says IFS image
....Britain’s leading tax and spending experts have warned Philip Hammond that his options are limited in this month’s autumn statement after predicting that slower growth and higher inflation will punch a £25bn hole in the public finances by the end of the current parliament. The Institute for Fiscal Studies said that if economic forecasters were right about the impact of Brexit, the new chancellor would have to extend austerity after the next election in order to finally eradicate the budget deficit built up during the financial crisis of 2008-09. ...
The legacy of leaving old industrial Britain to rot is becoming clear | Larry Elliott image
....Even if the lower estimate is right, it is still a colossal sum. As the report notes: “The financial crisis of 2008 is not the defining event in Britain’s recent economic history, nor even the main cause of the present budget deficit. ...
In interesting times, we’re stuck with a dull and cautious chancellor image
Source : Guardian [Read Article] Sunday 6th of November 2016 07:00:09 AM
.... This forecast, from the Resolution Foundation thinktank, represents the widening gap between the Office for Budget Responsibility’s March forecast and the likely outcome, and assumes a hard Brexit, soft austerity outcome. Such a shortfall will leave the budget deficit £23bn shy of where Osborne expected it to be in 2020. ...
Government borrowing rises to £10.6bn in September image
Source : BBC [Read Article] Friday 21st of October 2016 09:39:33 AM
.... The government's central goal, its most urgent priority, was to stop spending more than its income. Closing the gap between the two - aka the budget deficit - was an end that justified deep cuts to benefits for people of working age, including for recipients who were working. ...
Brexit 'rollercoaster' warning as Hammond axes deficit target image
Source : BBC [Read Article] Monday 3rd of October 2016 01:16:04 AM
....Mr Hammond said the government would use "all the tools at its disposal" to increase the amount of new housing stock "because making housing more affordable will be a vital part of building a country that works for everyone". Asked whether the public investment plan marked the end of the "age of austerity", Mr Hammond told BBC Radio 4's Today the annual budget deficit was still "eye-wateringly large" and that a framework was still required to get the public finances into the black "in due course". ...
Indonesia tax amnesty hit by protests image
Source : BBC [Read Article] Friday 30th of September 2016 02:50:31 AM
.... . It's meant to plug a big budget deficit but their unions say it unfairly pardons wealthy tax dodgers. ...
Related to :
Brazil launches rescue plan to fix economy image
Source : BBC [Read Article] Wednesday 14th of September 2016 12:57:35 AM
....Brazil's economy continues to contract. The plans are part of the new president's "Crescer" ("Grow") initiative, which aims to increase private investment in the country, in an attempt to address its huge budget deficit amid the country's worst recession in 80 years. ...
Money problems image
Source : BBC [Read Article] Friday 26th of August 2016 01:28:28 AM
....America's northern neighbour's basic cash assistance programme looks the most like the US in comparison to other developed economies - but the details are very different. Around the same time as TANF, was passed, Canada was dealing with a budget deficit. ...

Police Scotland's £21 million budget black hole 'threatens jobs'
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Source : Telegraph [Read Article] Tuesday 9th of August 2016 04:27:31 PM
....30 per month including council tax and utilities to live in a wing of publicly-owned Tulliallan Castle near Kincardine, where the force has its headquarters. Calum Steele, the SPF's general secretary, said: "It is not clear how much confidence is allied to the budget deficit but it is obvious to anyone who cares to look that what we are experiencing so far is but the tip of a very large iceberg. ...
EU waives budget deficit fines for Spain and Portugal image
Source : BBC [Read Article] Tuesday 9th of August 2016 11:10:24 AM
. The European Union has formally agreed to waive fines for Spain and Portugal over their excessive budget deficits. ...

Yes, some people really struggle, but inequality isn’t the problem 
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Source : Telegraph [Read Article] Wednesday 27th of July 2016 07:27:31 PM
.... Even if inequality were going up, this wouldn’t necessarily be a bad thing: imagine how much better off we would all be if an extra 500,000 jobs paying £100,000 a year were created in Britain tomorrow. The budget deficit would fall and productivity would jump. ...

Philip Hammond still needs to be a deficit hawk
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Source : Telegraph [Read Article] Wednesday 27th of July 2016 09:28:21 AM
Asian trade sees pound hovers around 31-year low image
Source : BBC [Read Article] Thursday 7th of July 2016 12:41:25 AM
....90 points. Australia's top AAA credit rating was reduced to "negative" from "stable" because of its large budget deficit and political risks stemming from the inconclusive elections held over the weekend. ...
Osborne abandons 2020 budget surplus target image
Source : BBC [Read Article] Friday 1st of July 2016 11:02:21 AM
....For the UK economy, one of the most important passages of Theresa May's speech yesterday was when she signalled that George Osborne's "fiscal rule" (to produce a budget surplus by 2020) was for the Treasury shredding machine. "While it is absolutely vital that the government continues with its intention to reduce public spending and cut the budget deficit, we should no longer seek to reach a budget surplus by the end of the parliament," Mrs May said. ...
London’s standing in global finance at risk as City faces loss of ‘EU passport’ image
.... Another leading agency, Standard & Poor’s, also warned that Britain could lose its AAA rating following the referendum result. The ratings agencies highlighted concerns that tackling the UK’s budget deficit, one of the largest of any advanced economy, will be made harder amid uncertainty over the country’s future trade arrangements. ...
Bank of England seeks to limit damage of UK's vote to leave EU image
Source : Guardian [Read Article] Friday 24th of June 2016 03:34:57 PM
....The story of the past decade has been of a profound financial shock which led to a deep recession. In order to prevent a repeat of the Great Depression, central banks and finance ministries slashed interest rates, pumped money into their economies and ran up big budget deficits. ...
Borrowing rise makes budget deficit target look shaky again image
Source : Guardian [Read Article] Tuesday 21st of June 2016 12:54:42 PM
. George Osborne could be history by the weekend so it is easy to see why the chancellor might have paid less attention than usual to the latest figures charting progress in reducing Britain’s budget deficit. ...
George Osborne's Brexit budget would guarantee a recession image
Source : Guardian [Read Article] Wednesday 15th of June 2016 09:59:23 AM
.... With interest rates so low, the government could borrow cheaply and underpin growth. The downside would be that the budget deficit would widen and the national debt would rise at a time when Osborne has still not finished the repair job on the public finances from the last downturn. ...
UK should stop 'sitting back' in EU, says Jeroen Dijsselbloem image
Source : Guardian [Read Article] Thursday 2nd of June 2016 09:00:19 PM
....Dijsselbloem, a fiscal hawk, who has led the Eurogroup since 2013, sharply criticised the European commission for not championing the EU’s fiscal rules. EU law requires countries to keep budget deficits below 3% of gross domestic product or face fines or the loss of European funds. ...
Austerity policies do more harm than good, IMF study concludes image
Source : Guardian [Read Article] Friday 27th of May 2016 04:44:12 PM
....­”. The UK chancellor, George Osborne, announced austerity plans when he took over at the Treasury in May 2010, in an effort to tackle Britain’s record peacetime budget deficit and rising national debt . ...
George Osborne, the really unfortunate chancellor image
Source : Guardian [Read Article] Sunday 22nd of May 2016 11:15:18 AM
....Some chancellors find that their biggest headache is the trade deficit and decide that the answer is to suck spending power out of the economy. If the slowdown goes too far and recession ensues, the trade deficit problem becomes a budget deficit problem. ...
European commission delays decision on Spain and Portugal deficits image
Source : Guardian [Read Article] Wednesday 18th of May 2016 04:46:25 PM
....Instead, Brussels said it wanted to see further action to reduce borrowing, adding that it would review the positions of Portugal and Spain in early July. They have both failed to reduce their budget deficits below the limit of 3% of national output demanded by the EC. ...
EU migrants have no negative effect on UK wages, says LSE image
Source : Guardian [Read Article] Wednesday 11th of May 2016 12:48:43 PM
....The study said there was little effect of EU immigration on inequality through reducing the pay and jobs of less skilled UK workers, while changes in wages and unemployment for less skilled UK-born workers show little correlation with changes in EU immigration. “EU immigrants pay more in taxes than they use public services and therefore they help to reduce the budget deficit. ...

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