UK dares powers to match debt gift
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The UK is to pay off 10 percent of the money owed by the world&#39;s poorest countries to the World Bank and the African Development Bank in an attempt to free them from &quot;the shackles of debt&quot;, British Finance Minister Gordon Brown was to announce today.
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British public borrowing is set to rise and the government will need to raise taxes or reduce spending to decisively cut the deficit, the Organisation for Economic Cooperation and Development said yesterday.
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The UK and other developed countries are meeting to plan ways to spend aid more effectively in poor countries.
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Ministers are to confirm the NHS has balanced its books despite many hospitals still struggling with debt.
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BRITAIN is to write off its share of debts owed by the worldâs poorest countries to the World Bank, Chancellor Gordon Brown will announce tomorrow.
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Â· Â£120 grant to buy fruit and vegetables Â· Brown rejects 'nanny state' criticism
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UK chancellor Gordon Brown and the French finance minister propose G7 nations should give 100% debt relief to developing countries by the end of 2005.
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British Chancellor of the Exchequer Gordon Brown appealed to IMF members to cancel up to 100 percent of the debt owed multilateral lending bodies by poor countries.
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There's a big difference, taxwise, between inheritances and gifts.
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Business & money: Tough new regulatory powers to make the Bank of England and the FSA more effective announced
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The government has pledged to provide greater debt relief for some of the world&#39;s poorest countries. It was announced on Sunday that the UK will write off its share of World Bank and African Development Bank
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Britain will provide more debt relief for the world&#39;s poorest countries and challenge other rich governments to do the same, Prime Minister Tony Blair&#39;s government said Sunday.
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The UK will have to raise taxes or rein in spending to avoid breaking its "golden rule", the National Institute of Economic and Social Research says.
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The initial aid pledges were generous, but governments will have to follow up on their word
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BRUSSELS: Britain yesterday stuck to its guns in a battle to keep its rebate from EU coffers and led a charge by European paymasters to block a rise in the union&#39;s spending in 2007-2013.
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LONDON -- The British government offered a sweeping plan yesterday for the Group of Seven nations to dramatically increase aid to the developing world and to forgive 100 percent of Africa's $70 billion in debt.
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A controversial scheme for national identity cards has been approved by the British House of Commons.