View Full Version : Oh Dear - Brown borrowing heavily to fund

20th June 2005, 13:56
news.bbc.co.uk/1/hi/business/4110612.stm (http://news.bbc.co.uk/1/hi/business/4110612.stm)

Government borrowing reached a record monthly high in May, according to the latest set of official figures.
Public sector net borrowing hit £8.7bn in May, the Office for National Statistics (ONS) said, the highest level since records began in 1993.

The ONS said the jump was driven by a 7.5% rise in government spending, which outweighed a 4.3% rise in receipts.

Analysts say the worse-than-expected figure means the government is in danger of missing its borrowing target.

And the best bit....

"We think it's likely that soon the chancellor will face the choice of raising taxes or breaking his golden rule," said Gavin Rednap of Standard Chartered Bank.

"He will likely go for the former, which will be a further impediment to economic growth." :rollin

The ONS figures also showed that the public sector net cash requirement stood at a higher-than-expected £5.89bn in May, against £3.23bn at the same point last year.

Oh dear - dig DEEP boyz and girlz.....

20th June 2005, 14:06
This is one of those pointless CUK posts.
Either do something about it, change it in some way, leave the country etc.
There's no point worrying about what you can't change.

20th June 2005, 14:08
It's just a heads up boyz. Some big tax hikes on the way. Just a friendly reminder we still have a Labour government in power.

Don't worry about it, I'm sure your next rate increase will cover it nicely.

Carry on.

20th June 2005, 14:10
I always try to get my rates to increase. That is something I have some slight control over :D