UK's current account deficit is the forgotten deficit
by Larry Elliott Economics editor from Economics | The Guardian on (#CWE5)
The chancellor is not nearly as worried about the trade deficit as he is about the budget deficit - and not nearly as worried as he should be
Britain's balance of payments has never been more deeply in the red. There have been some monster external deficits down the years but the one notched up in 2014 trumped them all.
Little is said in official circles about the nation's current account. George Osborne talks about boosting exports and rebalancing the economy, but, the chancellor is not nearly as worried about the trade deficit as he is about the budget deficit. And not nearly as worried as he should be.
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