osborne warns on eurozone recession
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Osborne warns on Eurozone recession

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleOsborne warns on Eurozone recession

London - Kuna

A recession in the eurozone could tip Britain into recession as well, the Chancellor, Finance secretary, George Osborne warned Wednesday.The Chancellor, in Brussels for talks with European counterparts, told BBC Breakfast TV \"If the eurozone goes into recession, into a deep recession, then I\'m afraid Britain will find it difficult to avoid a recession itself, because people watching this programme will be going to work in companies that make things that they would normally sell to Germany, France, Italy and the like.\"That\'s where Britain makes a lot of its money, so we are very affected by what happens in the eurozone.\" Britain can do two things to help - put its own house in order, and urge the countries of the eurozone to deal with their problems as well, he added.He was speaking the day after warning that Britain faces another six years of austerity and admitting the country\'s finances are in an even worse state than feared.Delivering a grim assessment in the Autumn Statement, Osborne said the stalling economy meant the Government\'s efforts to tackle the deficit would have to continue far beyond the next general election.Figures released by the independent Office for Budget Responsibility (OBR) show the Government is on track to borrow 111 billion pounds more by 2016 than had been expected as recently as March. Unemployment is due to peak at 8.7 percent next year.Osborne responded by setting out a drastic package designed to boost growth, with the public sector bearing much of the pain in order to free up money for investment. Annual pay rises for state employees - many of whom are on strike today over pension curbs - will be capped at 1 percent for two years following the conclusion of the current pay freeze in 2012.That effectively means a real-terms cut for millions of people.Osborne raised billions of pounds more by accelerating the increase in the state pension age to 67 by eight years to 2026.

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

osborne warns on eurozone recession osborne warns on eurozone recession

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 09:46 2017 Sunday ,27 August

Norway fines tourist guide for scaring polar bear

GMT 07:33 2018 Monday ,08 January

CIA chief denies agency role in Iran unrest

GMT 08:55 2017 Tuesday ,15 August

Shares of Fiat Chrysler surge

GMT 00:09 2017 Friday ,27 October

Alphabet quarterly profit climbs

GMT 09:53 2017 Saturday ,08 April

Mexico inflation hits new seven-year high

GMT 18:28 2012 Friday ,09 March

All balanchine

GMT 07:09 2015 Friday ,11 December

Syria government scrapes barrel

GMT 15:57 2017 Tuesday ,24 October

2018 Olympic torch ceremony hit by poor weather

GMT 03:22 2017 Wednesday ,02 August

At least 29 killed in Afghan Shiite mosque attack
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle