Which country has the biggest cash flow problems?
A new report by Deloitte has found the UK’s cash flows are the second worst in the world for a second year running, as it struggles to pay its debts and has a cash crunch.
The firm’s research shows Britain’s cash balances of just over $US1.2 trillion have been cut in half in the past 12 months, while debt has more than doubled in value.
The report also said the UK is the worst country in the OECD for having an excessive amount of debt, with total public debt at a record $US20 trillion, more than double the OECD average.
“Our analysis shows that the UK has a substantial problem in paying its debts, particularly the amount owed to the public sector, with a cash balance of just under $US2 trillion,” said Dr Simon Johnson, a Deloittles chief economist.
“We believe that the biggest problem for a country to overcome is its current fiscal situation, which is currently unsustainable and unsustainable in the long run.” “
The UK’s debt is a problem for the UK, and it is a serious problem for future generations.”
“We believe that the biggest problem for a country to overcome is its current fiscal situation, which is currently unsustainable and unsustainable in the long run.”
UK debt levels ‘unsustainable’ The Deloittle report shows that debt has increased by $US6.6 trillion over the past six years, while public debt has jumped by $1.3 trillion.
The UK’s total public and private debt has climbed by more than $US10 trillion in the last 12 months.
“We’ve also seen the country’s fiscal position deteriorate by more in the longer term, with the Government’s deficit now over $1 trillion,” Dr Johnson said.
The Delosittle report also found that the Government faces a debt load of $US11.5 trillion by 2030. “
And the Government has a huge amount of cash on hand, and that’s only going to increase.”
The Delosittle report also found that the Government faces a debt load of $US11.5 trillion by 2030.
The country’s debts are rising by more per cent than the OECD’s average, as the UK becomes a net importer of goods.
The latest Deloitave data shows the UK accounts for less than 5 per cent for most countries in the group.
Dr Johnson says the UK was a net exporter in 2015, with more than 60 per cent exports going to other OECD countries.
“So that’s a very, very high export base, and in fact it’s very much on the lower end of the export scale,” Dr Julien said.
He said that in the UK the government has been able to pay off its debt, but that it is unlikely to be able to do so in the medium term.
“For the Government, it will be in the position of having to borrow from private sources to meet its obligations, which may have a negative impact on the economy over the longer run,” Dr Junge said.
In a separate report, Deloits chief economist Dr Simon Jellicoe said that the United States is also in the worst financial situation in the developed world.
“While the US has been the main beneficiary of the global economic recovery, the US public sector has been struggling to cope with the costs of the financial crisis,” Dr Jellice said.