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[QUOTE="andy003, post: 1589, member: 245"] [b]UK's budget could be worse than predicted.[/b] [FONT="Comic Sans MS"][IMG]http://i43.tinypic.com/714v36.jpg[/IMG] 6th April,09 Monday The budget deficit is at least 2.7% more than what was being expected in the pre budget announcements by the Chancellor Alistair Darling.Darling who will be presenting the budget later in the month said the recession in UK has been more severe than expected. In Fx Trading, the pound has tumbled amid these persistent economic problems here. The £39bn (approx 58bn US dollars) deficit could be financed by either raising the tax limits or by putting a five-year real freeze in total public spending.The Institute for Fiscal Studies (IFS) estimates that taxes in Britain will have to rise by at least £20bn a year to cover record borrowing. The prime Minister Gordon Brown,is hopeful the consensus reached at the worth $1.1 trillion (£681bn) deal at the G20 Summit will help build the dwindling confidence in the banks, and make a difference to the lives and to the aspirations of families and businesses in the UK.[/FONT] [/QUOTE]
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