Wednesday, 4 November 2009

UK interest costs 'equal to entire Transport bill'

"The IMF singled out the UK as being at significant risk from the threat of rising debt interest costs as it absorbs the effects of the financial and economic crisis. It said that the proportion of UK taxes that will go towards financing the national debt will, in five years' time, be double what it was just before the onset of the crisis.It said: "Just the increase in interest spending in the United Kingdom is about twice annual outlays for environmental protection and is equivalent to annual spending on public transportation."

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