Government borrowing jumps to £6.8bn in August Government borrowing jumps to £6.8bn in August
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  1. #1

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    Anywhere that is not broken Brexit Britain

    Default Government borrowing jumps to £6.8bn in August

    Wonder what could have caused that?

    Government borrowing rose by more than expected last month following subdued tax receipts and an increase in expenditure.
    Borrowing jumped to £6.75bn last month from £4.35bn a year earlier, the Office for National Statistics said.
    It was the first year-on-year rise in borrowing in August for three years.
    However, borrowing for the year to date is 30.5% lower at £17.8bn, potentially giving Chancellor Philip Hammond room for manoeuvre in the Budget.
    Economists had expected borrowing to be about £3.4bn last month.
    Tax receipts rose by 1.6% last month from a year ago, while spending rose 5.4%.
    Andrew Wishart from Capital Economics, said: "The worse outturn was due to higher spending than last year. In particular, departmental spending picked up."
    “We've always defined ourselves by the ability to overcome the impossible. And we count these moments. These moments when we dare to aim higher, to break barriers, to reach for the stars, to make the unknown known. We count these moments as our proudest achievements. But we lost all that. Or perhaps we've just forgotten that we are still pioneers. And we've barely begun. And that our greatest accomplishments cannot be behind us, because our destiny lies above us.”

  2. #2

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    Isn't that about 5 EUR these days?

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