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UK sinks deeper into debt

2022-10-06 13:24:09 | 翻訳記事 Translation

It is certain that on the one hand, there is the view that inflation (soaring prices) in Europe, the U.S., Japan, etc. is not due to monetary quantitative easing or austerity but, in the short term, to "shortages due to logistical disruptions" from the Corona fiasco to the present day in Ukraine.

It has been a long time since the word "debt ceiling" was not heard from the U.S. Congress.

Some say that a British financial collapse is imminent.

QT will bankrupt the country, and QE will prolong its life for a little while.

What lies ahead?

What will happen not only to the dollar, but also to the gold market, the yuan, and the ruble?

By the way, is China still the country with the lowest labor costs among countries with industrial production capacity?

Is there no mechanism to prevent war after the end of the war in Ukraine? At the very least, it is essential for countries without energy resources to promote alternative energy policies.

 

欧米日などのインフレ(物価高騰)は、金融量的緩和や緊縮ではなく、短期的にはコロナ騒動からウクライナ現在までの「物流寸断による物不足」であるという見方が一方であることも確かだ。

アメリカ議会から「債務上限」という言葉が聞かれなくなって久しい。

イギリス金融破綻が間近という人もいる。

QTで破綻、QEで僅かの延命。

その先に何がまっているのだろう。

対ドルだけでなく金相場や元・ルーブル為替はどうだろう。

ところで、工業生産力を持つ国で、いま人件費の一番安い国は相変わらず中国なのだろうか。

ウクライナ戦争終結後に戦争が起きなくなるような仕組みは無いのだろうか。少なくともエネルギー資源を持たない国は、代替エネルギー政策を進めることは欠かせない。

 

 

24 Sep, 2022 05:30
High inflation is driving interest payments to record levels

The British government’s debt interest payable has risen to the highest level on record, the Office for National Statistics (ONS) reported this week.

The interest payable stood at £8.2 billion ($9.25 billion) last month, which is £1.5 billion ($1.7 billion) more than in August 2021, and the highest figure for the month since records began in April 1997, the ONS said, adding that the volatility in interest payable is largely caused by the inflation rates.

Annual inflation in the UK hit 9.4% in June, the highest rate in 40 years, but retreated to 8.6% in August.

The UK government borrowed nearly twice as much as expected in August, £11.8 billion ($13.3 billion) instead of £6 billion ($6.7 billion) forecast by the Office for Budget Responsibility, as the public sector spent more than it received in taxes and other income, the ONS explained.

 

Public sector net debt excluding public sector banks represented roughly 96.6% of GDP, which was an increase of 1.9% of GDP compared with the same period last year, according to the ONS.

Markets are concerned that the package of support measures for households and businesses announced by Prime Minister Liz Truss will push borrowing higher, and lead to the Bank of England aggressively raising interest rates.

In September, the British pound reacted to the economic instability in the country by plunging to its lowest level against the US dollar since 1985.

For more stories on economy & finance visit RT's business section

 

https://www.rt.com/business/563324-uk-debt-interest-payments-record/

 

 

 

 

 

 

 

 

 

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