Tuesday 26 May 2009

Treasury warns of £70bn hole in Budget forecasts

Telegraph
"Alistair Darling faced fresh embarrassment last night when the Treasury's own survey of economic forecasts contradicted the Chancellor's and raised the possibility of a £70bn hole in the public finances. .....The survey predicts over the next four years the total borrowing figures will be £679bn. In the Budget Mr Darling said it would be £606billion, meaning the Treasury would need to find another £72.7bn."

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