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Initial release Peru
Directors Francisco José Lombardi
Story by Alberto Fuguet
Screenplay Giovanna Pollarolo
Cast Lucía Jiménez
Gianfranco Brero
Giovanni Ciccia
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An intern (Giovanni Ciccia) at a tabloid newspaper adopts the unscrupulous methods of a veteran writer (Gianfranco Brero).

No-deal-British EU exit push UK debt on a 50-year high, says think-tank

Feb 16,2020 6:56 am

a "relatively harmless" is not a deal-British EU exit push UK debt, the highest level since the 1960s, The Institute for Fiscal Studies (IFS) has said.

The Think Tank said borrowing expected to be £100bn and total debt would rise to 90% of the national income.

"The Government is now helpless without an effective fiscal anchor," said IFS Director Paul Johnson .

The Ministry of Finance said, all the decisions are in terms of the long-term sustainability of public finances".

expenditure rules

The dire predictions are part of the IFS Green Budget, with a view to the challenges faced by the German Chancellor, Sajid Javid , as he prepares for his first Budget.

The IFS said Mr Johnson: "in view of the high uncertainties and risks for the economy and The Public finances, it [the Government ] should not seek to provide a more constant delivery rate of give-aways in each of the next budget.

"In case of no deal Emerge, although, it should be, the implementation of carefully targeted and temporary tax cuts and spending increases, where it can effectively support the economy. "

But even before the costs of a possible no-deal-UK leaving the EU becomes factored in, the think-tank said the Government was breaking the set, to regulate its own expenditure.

The IFS forecast of annual new borrowing is the difference between what the Government spends and what it receives, for example, through taxation - is upwards of £50 billion in the next year.

This is about 2. 3% of the gross domestic product (GDP), a measure of national income. Under the current expenditure, the Government only loans of up to 2% of the national income can rules.

The think-tank said the Government laid out the current plans for the day-to-proposed-day spending in the next year to be closer to The Levels of Labour 2017 Manifest as the plans of the Conservative Party at the time.

A Hm Treasury spokesman said: "the September spending-round support of the people, the priorities of health, education and police within the existing fiscal rules, as we have said, it would be.

"moreover, that the Chancellor has already said that we have the review of the tax environment, as we turn the page on austerity. We reserve the right to a fiscal anchor, public expenditures, so that decisions are made with a view to the long-term sustainability of public finances. "

A doubling of the annual budget deficit, which it is in relation to the size of the economy, the highest national debt since the 1960s.

the new projections from the Independent Institute for Fiscal Studies, as a no-deal-UK EU exit is likely to be consumed by the British public finances in Red Ink . Only on the exceptional scale of the fiscal collapse of the financial crisis of 2008, these figures are modest.

On any ordinary scale, they don't matter - an annual deficit back up to £100bn, and the Government Debt closer to the 90% of GDP for the First Time in half a century.

And all of this comes at a time where The Institute of outputting to the conclusion that the Government under its own fiscal rules seriously, borrowing more and more on public services, as the treasure chamber of his self-imposed limits is approaching.



In case of no-deal Brexit , the IFS a temporary Government , said buy-to-noise could help smooth the way for growth, although it added to the national debt.

The think-tank predicts that the level of debt - the total amount of money owed to the Government would rise to almost 90% of the national income. It currently stands at about 80%.

spending, with "significant" state, the IFS expects the UK economy to Escape to flatline for two years after a no-deal.

It warned that a rise in public spending in the year 2020 would probably be followed by "another bust," as the Government would have to do with "the consequences of a Smaller economy and higher debt for the financing of public services".

Mr Johnson said it was "vital" that Government spending programs temporarily.

"it's the economy, turns out Smaller than expected, can in the Long Run , supports less public expenditure than expected, not more," he said.

Christian Schulz , The Chief UK economist at Citi, who have contributed to The Report , said: "The British economy is £60bn Smaller than it would have been to leave, without a vote, the European Union , with Britain in a struggle of global growth.

"the investments of the company up to 20% lower than it would otherwise have been, hurt productivity and wages," he said.

supplements the But, Mr Schulz, that a further Leakage delay would create more uncertainty, denting investment and growth rely on about 1% a year.

"From a growth perspective, a Brexit deal is to leave a little better, growth in 1. 5%, but it would not leave any chance of Brexit Will be deleted," he said.

"A no-deal-UK to exit the EU - even with a substantial stimulus could mean that there is no growth for the next two years. In the EU The Best -case scenario for the economy would be growth in the next few years. "

uk economy, personal finance, economic effects of brexit, uk national debt, institute for fiscal studies, brexit

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