Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Osborne: Britain has run out of money

2 Comments
Osborne: Britain has run out of money

Chancellor George Osborne has issued a bleak assessment of the UK's economy, warning that Britain has 'run out of money' and its only hope rests with the private sector creating growth.

Osborne (pictured) said he will stand firm by his pledge to balance the country's books by refusing to borrow more money.  The chancellor has come under intense pressure to ease his tough austerity measures, amid signs the UK's economy is slipping back into recession.

Speaking to Sky News, Osborne said Britain's money had been spent during the 'good years' and warned that its reserves are now empty.

'The British government has run out of money because all the money was spent in the good years.  The money and the investment and the jobs need to come from the private sector,' Osborne said.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Video special: what Scottish DFMs think of SNP election flop

Video special: what Scottish DFMs think of SNP election flop

As delegates gathered for Citywire Scotland, we asked them their take on the election.

Play Keith Skeoch: 'passive has a part to play'

Keith Skeoch: 'passive has a part to play'

In the third part our series, Skeoch outlines his vision for Standard Aberdeen.

2 Comments Play Keith Skeoch: why I believe markets will make 'substantial returns'

Keith Skeoch: why I believe markets will make 'substantial returns'

In an exclusive interview, Standard Life CEO Keith Skeoch tells us why he takes an optimistic view on markets just about everywhere.

Read More
Your Business: Cover Star Club

Profile: Rathbones' fund boss on spotting emerging talent

1 Comment Profile: Rathbones' fund boss on spotting emerging talent

A great fund manager is really easy to spot, says Mike Webb, chief executive of Rathbones Unit Trust Management

Wealth Manager on Twitter