And I pop up in the comments:
\”the Ernst & Young Item Club now estimate that Britain’s large companies are sitting on a cash pile that between them that amounts to £750 billion.
To put that enormous number in context, it is enough to fund the budget deficit from 2008-09 to 2014-15 inclusive. Rather than invest large companies are simply lending their cash to the government.\”
Gosh, that\’s amazing Richard.
Because, do you know, there\’s some idiot out there on the internet who says that non financial corporate holdings of gilts are somewhere around zero.
You can see it here:
You\’d really better go and straighten him out. It just wouldn\’t do to allow someone to remain in such error, would it?