Public sector borrowing fell last month

In the lull before the storm of the next Budget, official figures show that public sector net borrowing fell in May. In fact net borrowing reached £16bn, which was down by 8% on the £17.4bn recorded in May last year. Public sector net debt, shown as a percentage of Gross Domestic Product was 62.2% at the end of May 2010, … Continue reading

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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

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Record figure for UK December borrowing

Public sector borrowing in December last year reached £15.7bn, which was £1.9bn higher than the December 2008 figure, according to the Office for National Statistics today. This was the highest December figure on record.   This means that the government’s net borrowing has reached £120bn for the first nine months of the fiscal year and seems to be on track … Continue reading

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