Thursday, 18 February 2010

Public borrowing hit £4.3bn last month... the first January deficit since records began

Daily Mail
"The dire state of Britain's public finances was highlighted again this morning when it was revealed the Government had to borrow money in January for the first time since records began.Labour's hopes of a 'feel-good factor' leading up to the general election took a serious knock by the news that public borrowing for the month was £4.3billion.Analysts had predicted that the Treasury would actually repay around £1billion.The Government usually enjoys a surplus at the beginning of the year because of increased amounts of income and corporation tax.Last January, when Britain was in the teeth of the worst recession since the 1930s, some £5.3billion was repaid."

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