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The Latest Breaking News from Deficit

Scotland’s deficit drops by 10%, but remains twice that of UK

The net fiscal balance was still a deficit of 12.3% of GDP, or £23.7bn, during 2021-22

Insider UK

GERS figures: Scotland's deficit falls to £23.7bn but still more than double the rest of the UK

GERS figures show the public spending deficit was £12.6bn lower than the previous year.

Daily Record

GERS figures show 'huge fall' in Scotland's deficit

SCOTLAND’S deficit has decreased dramatically to £23.7 billion, new figures have shown.

The National (Scotland)

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OMB: Deficits, growth lower in the near term, inflation up

WASHINGTON — The White House’s annual update to its most recent budget forecasts shows a brighter near-term picture for federal finances but a gloomier outlook for inflation and economic growth.

Tribune News Service

Biden administration forecasts $1.03T deficit, down $400B

The Biden administration is forecasting that this year’s budget deficit will be nearly $400 billion lower than it estimated back in March, due in part to stronger than expected revenues, reduced spending, and an economy that has recovered all of the jobs lost during the multi-year pandemic

The Independent UK

OMB: Deficits, growth lower in the near term, inflation up - Roll Call

The White House issued a brighter near-term picture for federal finances but a gloomier outlook for inflation and economic growth.

Roll Call

How to lose weight in a week - 12 expert tips to get started

Personal trainers and nutritionists reveal how to lose weight in a week with simple, easy steps to follow for sustainable weight loss

Woman & Home

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Michael Hiltzik: Would forgiving student debt drive up inflation? Only if you're using lousy math

With a deadline looming in less than two weeks for President Biden to decide what to do about student debt, it shouldn't be surprising that conservatives have been agitating with increasing intensity against relief for the borrowers.

Los Angeles Times

'I’ve finally been diagnosed with ADHD as an adult and everything finally makes sense'

It's been estimated that around one million women in the UK could have attention deficit hyperactivity disorder – but according to the ADHD Foundation, a staggering amount of them do not know they have it.

Daily Mirror

German dependence on China growing 'at tremendous pace', research shows

The German economy became more dependent on China in the first half of 2022, with direct investment and its trade deficit reaching new heights, despite political pressure on Berlin to pivot away from Beijing, according to research seen by Reuters.

Reuters

Gold imports up 6.4% to $13 billion in April-July this fiscal

NEW DELHI: India's gold imports, which have a bearing on the country's current account deficit (CAD), rose 6.4 per cent to $12.9 billion during April-July this fiscal due to healthy demand, according to government data.

The Times of India

Labour lost 91,000 members last year, new accounts show

The party also ended 2021 with a deficit of more than £5 million, driven by staff redundancies and a drop in income from membership fees.

The Independent UK

Labour £4.8m in deficit after redundancy payouts and membership losses

Treasurer’s report describes last year as ‘difficult and demanding’ but says return to normal operations is expected

The Guardian - UK

Labour Party haemorrhaging funds and members, accounts reveal

LABOUR has haemorrhaged thousands of members and is stuck with a multi-million dollar financial deficit, the party’s latest accounts show.

The National (Scotland)

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The Independent UK

Labour loses nearly 100,000 members and makes £5 million loss in 2021

Party’s income from membership fees has been cut and makes up majority of deficit

Daily Record

Cost of expensive drugs and workers' pay won't make Scots health board's £26m shortfall worse

Its finance director says the increasing cost of rare medicines and higher than anticipated pay agreements can be dealt with.

Tribune News Service

Editorial: The Inflation Reduction Act is key: In praise of its sweeping investments and deficit reduction

One of the most important features of the Inflation Reduction Act — which makes massive investments in renewable energy to curb climate change, drives down prescription drug costs and more — is what it is not: an irresponsible spending spree pushing up the federal deficit.

The Guardian - UK

Centrica and Octopus back plan to freeze UK energy bills for two years

‘Tariff deficit fund’ proposed by ScottishPower and Eon would involve banks putting cash into state-backed fund

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The Independent UK

In Biden's big bill: Climate, health care, deficit reduction

The biggest investment ever in the U.S. to fight climate change

The Times of India

Battling floods, 25% MP still rain-deficit

BHOPAL: What can be more ironical than the fact that many districts in MP are flooded, yet more than one fourth of Madhya Pradesh is rain-deficit when 80 days of monsoon are already over.

The Times of India

Explainer: Is Bangladesh headed the Sri Lanka way?

NEW DELHI: Yet another South Asian country has come under the trap of falling foreign exchange reserves and soaring trade deficit. Protests, blackouts, sudden surge in fuel prices have forced people in Bangladesh- just like Sri Lanka and to some extent in Pakistan- to come out into the streets to…

Daily Record

Gio van Bronckhorst follows Rangers salute with a PSV warning as he demands no more Champions League headstarts

The Ibrox side rallied to overturn a 2-0 first leg deficit with three unanswered strikes to beat Union Saint-Gilloise and reach the playoff round.

St. Louis Post-Dispatch

Editorial: GOP opposition to climate-and-drug bill highlights party's twisted priorities

Senate Democrats over the weekend passed legislation to help industry and individual Americans move to cleaner energy, make corporations pay their fair share in taxes and lower prescription prices for struggling seniors, all while lowering the deficit and, potentially, inflation. Republicans’ sole contribution to this historic package was to keep…

The Times of India

Bihar: BJP on back foot as political temperature surges

PATNA: The political developments in Bihar not only exposed the chinks in the armour of CM Nitish Kumar's JD(U), but also its trust deficit with ally BJP. The reported telephone talks between Nitish and Congress chief Sonia Gandhi on Monday have further raised the political temperature in Bihar.

Reason

The Inflation Reduction Act Won't Meaningfully Address the Budget Deficit

Congress has added $2.4 trillion to the long-term deficit since President Joe Biden took office. Now they want credit for reducing the deficit by $300 billion?

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