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Сен 05

Government hits slump after global financial meltdown

Government hits slump after global financial meltdown

The British banking sector, which suffered a huge blow after the global financial crisis, has hit a historic low this month after suffering its first weekly fall in two years, according to data from the Office for National Statistics (ONS) published this morning.

The sector recorded a drop in investment from a year ago of $941m, compared to $711m a year earlier and $769m in April 2013.

The Office for National Statistics points to an increasing number of “emerging market bank failures” following this week’s announcement that Britain has been given a one-off €3.7bn bailout from the European Union and IMF in the financial crisis.

The number of UK branches of the world’s biggest banks fell by 15.8% to just 38,200 over the month, while the number of branches opened by foreign lenders by 1.8 million dropped by 10.5%.

UK banks were bailed out, after receiving a cash injection in exchange for the British taxpayer’s taxpayer-funded bailouts of nine European banks.

‘Stable state of affairs’

But despite the fall in investment, the ONS predicts the UK will remain relatively well-off as a proportion of global GDP.

Annual growth in global output is forecast to be 1.2%, with the UK in the top half of both. The UK account for just 0.8% of global output – behind France, Germany, Japan and Australia – but will now add just under one per cent.

“The UK remains an extremely stable state of바카라사이트 affairs relative to the economy in most other emerging markets,” the ONS added.

“In the US, the growth rate is close to zero; in Asia, China and India, it is about even. In the UK, how더킹카지노ever, the figure is about six times higher.”

The ONS expects the UK to continue to attract more investors and companies from outside the EU, which was a major driver behind the financial crisis and is likely to influence the extent to which Britain’s growth and jobs rate can be extended in coming years.

Media playback is unsupported on your device Media caption Why is the UK making the EU “a big challenge”?

Mr Hammond urged the chancellor to use the European Union as a model in the United Kingdom.

“The idea is that if the UK lea바카라사이트ves the EU, so that they can stay in the single market, we will take away all their rights, w