Sunday, December 21, 2008

BBC NEWS | UK | IMF warns of 'disturbing' UK debt

The level of debt in the UK is "disturbing," the head of the International Monetary Fund has said.But Dominique Strauss-Kahn told the BBC that given the severity of the economic downturn, more government borrowing was the lesser of two evils.He said 2009 would be "a really bad year" and more state spending was necessary to stimulate growth.Public debt has risen to £650bn, 44.2% of UK gross domestic product. Consumer debt is more than £1.4 trillion.
BBC NEWS | UK | IMF warns of 'disturbing' UK debt
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