FEARS that Gordon Brown has left Britain on the brink of bankruptcy intensified last night as investors withdrew from backing the Treasury’s soaring debt.
US-based investment group Pimco, one of the world’s leading bond houses, said it will sell its UK government gilts this year.
It will be a hammer blow to the Treasury’s attempt to raise up to £200billion of government borrowing amid the deficit crisis.
The embarrassment is all the more acute because the younger brother of Cabinet minister Ed Balls is overseeing the gilt sale. (more)
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