The Great Debate UK
Part-paid gilts should return
– Neil Collins is a Reuters columnist. The opinions expressed are his own –
LONDON, April 23 (Reuters) – The UK Government needs to raise four billion pounds a week, every week, in the financial year to next April, to bridge the gap between its tax income and its spending.
Raising such stupendous sums — getting on for 15 percent of each week’s British national output — has never been tried before, and nobody really knows whether it can be done.
The optimists point to the financial year just ended, in which the government raised 146.5 billion pounds, as evidence that this year’s plan for 220 billion pounds can be met.
