Record borrowing to be followed by record spending cuts?

Public sector net borrowing reached a total of £163.4bn in 2009-2010 which was about £3bn lower than forecast by the Chancellor in the April Budget, but was significantly higher than the £96.5bn of borrowing in the previous financial year. This was the largest borrowing figure since the Second World War and is the equivalent to 11.6% of GDP. National debt, … Continue reading

Posted by Nigel Tree | Comments Off on Record borrowing to be followed by record spending cuts?