UK headed for monster budget deficit as G20 looms

[FarCenter]

By Europe correspondent Emma Alberici

Four days ahead of the G20 summit in London, and as protests against the actions of the world's financial industry gather momentum, attention is turning to the parlous state of the United Kingdom's finances.

British Prime Minister Gordon Brown has just returned home after his world tour designed to garner support for a consensus approach to tackling the global economic crisis.

But support for a coordinated fiscal stimulus package is waning, and there are questions about whether any concrete courses of action will emerge from Thursday's meeting.

The International Monetary Fund (IMF) and others are raising alarm over Britain's rising debt levels, which are putting it on course for the biggest budget deficit among the advanced economies.

<snip> http://www.abc.net.au/news/stories/2009/03/30/2529471.htm