Alex von Stachelkopf
The UK government reports that the budget deficit has grown up to £557 million over the last 7 months. The figures shocked economists. They had anticipated a £2.2bn surplus, especially as last year’s surplus was around £2.8 bn.
Experts say the deficit occurred because of lower budgetary income and higher budgetary spending. Tax payments by corporations declined by 19.3% during the period. The government increased their spending by 5.1%.
They say the recession will prevent the UK government from implementing the budget plan scheduled for 2012.
Forex.
According to , the British Pound keeps strengthening against the US Dollar. The experts report that GBPUSD is forming wave А(С)/С inside a bigger-scale upswing represented by wave А/В of level Weekly.
A further rally will probably encounter resistance around 1.5897/906. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 1.5489 (as shown below).
Alex von Stachelkopf
