Morning news headlines: Brexit shock could see balance sheet 'liabilities' hit growth, watchdog warns; Watchdog critical of efforts to clamp down on illegal migrants
BREXIT SHOCK COULD SEE BALANCE SHEET 'LIABILITIES' HIT GROWTH, WATCHDOG WARNS
A major economic shock caused by Brexit could see "significant liabilities" on the Government's balance sheet "crystallise" and hit economic growth, the Whitehall spending watchdog has warned.
The Commons Public Accounts Committee (PAC) said provisions liabilities had increased by 71% and contingent liabilities - possible future financial obligations for the Government - by 85% since 2009-10.
The committee said the Government is increasingly using its credit rating to issue guarantees, and by... read more