UK government borrowing rises in June

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UK government borrowing rises in June

Post by Sassy on Sat Jul 22, 2017 10:34 am

Government borrowing increased last month after the state was forced to pay higher interest on its debt.

Public sector net borrowing, excluding state-owned banks, rose to £6.9bn in June, up £2bn from a year earlier.

The government's debt costs jumped by more than a third in June from a year earlier after rising inflation pushed up interest on index-linked bonds.

For the financial year to date, borrowing is up £1.9bn to £22.8bn, the Office for National Statistics said.

The Office for Budget Responsibility (OBR) - the fiscal watchdog - has forecast that borrowing will be £58.3bn during the current financial year. In the financial year to March 2017, borrowing was £46.2bn according to the latest estimates from the ONS.

As of this morning, the UK Debt Clock read £1,888,761,000 and rising by the second.

Trust the Tories with the economy? You have to be mad.
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Re: UK government borrowing rises in June

Post by Irn Bru on Sat Jul 22, 2017 10:58 am

They're bloody hopeless. They will blame Labour of course even though that was about 7 years ago And what they were spinning then was off the mark anyway. And now there really is no money left - well other than the odd billion or so paid out to bunch of terrorist sympathysers and outright homophobes to keep you in power Laughing
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