How bad can the UK’s fiscal position get? |
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Calls for a looser UK fiscal stance are rising... With UK economic growth slowing and the housing market weakening, the call for government action is rising. In the US, they have cut taxation by nearly 2% and slashed interest rates by 3.25 percentage points to 2%. But the UK economy is in a different position, for one thing its budget deficit as a share of gdp is slightly larger and for another it is not clear whether a relaxation of fiscal policy would be met by a response from the Monetary
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