Highest August borrowing figure on record

UK Public Sector Net Borrowing (PSNB) in August was a surprise £15.9 billion. This was a rise of £1.9 billion on August last year and was the highest August total on record, and well above the market forecasts of just over £13 billion. So far this fiscal year, between April and August, total PSNB has totalled £51.5 billion. This is … Continue reading

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I’m expecting a call from the Queen at lunchtime

Well to be strictly accurate it will be from the Queen’s Head. I’m meeting Skipper Harrison and some of the lads down there for a celebratory drink. We’re used to late night sittings, so this running the country stuff should be a bit of a doddle. The first thing we will have to do is choose a cabinet. I know … Continue reading

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Record level of government debt

UK public sector net debt reached a total of £799bn in June 2009, compared to £641.4bn in the same month last year, and was the highest level since records began in 1974. This outstanding debt amounted to 56.5% of Gross Domestic Product, which compares with 44.4% in June 2008. When the intervention in the financial sector is excluded, net debt … Continue reading

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Pull the other leg, Mr Chancellor

Yesterday saw the arrival of the Budget we had all been waiting for. How was Alistair Darling, the chancellor, going to deal with an economy which is in severe recession and contend with government finances which have been so severely overstretched?   There was a bit of tinkering here and there with slight increases in taxes on alcohol, tobacco and … Continue reading

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Country to feed, please give generously

UK public finances are deteriorating rapidly. Continue reading

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