Eric Lonergan joined M&G in 2006 as a member of Dave Fishwick's multi asset team. Eric is manager or deputy manager of a number of M&G's multi asset funds. Prior to joining M&G, Eric was managing director and head of macro research at JP Morgan Cazenove. He has a BA in politics, philosophy and economics from Pembroke College, Oxford, and an MSc in economics from the London School of Economics.
Despite running a large budget deficit in each of the past three years, the net debt of the UK government has barely risen.
The distinction between gross and net debt is central to any consideration of a government’s solvency. Gross debt usually refers to the total stock of current… Read the article