British Banks May Need More State Funds: Think Tank

by | Oct 4, 2010 | Towing

British banks may require further taxpayer funds, with borrowing needs potentially hitting £25 billion pounds ($39.5 billion) a month, according to a think-tank.

The independent New Economics Foundation said that central bank data indicated the banks are facing major funding problems, Reuters reported.

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Finance Minister George Osborne dismissed the suggestion.

“I am certainly…

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British Banks May Need More State Funds: Think Tank originally appeared on DailyFinance on Mon, 04 Oct 2010 07:48:00.

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Increased Government Spending Fuelled UK Economic Growth

by | Sep 28, 2010 | Towing

A jump in government spending helped fuel the UK’s economic growth in the second quarter, the country’s Office for National Statistics said.

Government spending grew 1% in the quarter, the fastest rate in over a year, Bloomberg News reported. This contributed to economic growth of 1.2% for the quarter.

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The Conservative-led coalition government is preparing tax increases and budget…

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Increased Government Spending Fuelled UK Economic Growth originally appeared on DailyFinance on Tue, 28 Sep 2010 07:45:00.

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