Tuesday, 20 October 2009

Record in public sector borrowing

BBC
"The UK's public sector net borrowing reached £14.8bn last month - a high for September, official figures have shown. ....Net borrowing for the six months of the financial year so far now stands at £76.2bn - the worst figure for the April-to-September period on record.
The government expects borrowing to hit £175bn this year. Its overall debt now stands at £824.8bn, or 59% of GDP.That includes about £142bn as a result of banking bail-outs.Economists had expected borrowing to come in at £15.3bn in September.The figures raise speculation that the government may have to revise its forecasts on borrowing."
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UK government borrowing hits record £77bn (Telegraph)
"Public borrowing in Britain ballooned to a record £77.3bn in first six months of the financial year - the highest half-yearly figure since the end of the Second World War."
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Public borrowing soars to worst level on record (The Times)
"Just to meet interest payments on its mounting debt pile, the Government paid out £5.9 billion - 43 per cent more than the same month last year and the highest monthly payout on record."

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