UK Public Borrowing Off the Charts
As any sports fan will know, there’s nothing like backing up your lofty position with some convincing performances. The UK’s borrowing reached a record high in October, according to official figures published yesterday. Meaning the state of public finances are worse than many economists feared. Borrowing ballooned by £11.4bn during October, the Office for National Statistics (ONS) said, around double the consensus forecast. National debt has spiralled to £829.7bn – equivalent to more than 59 per cent of GDP. That compares …
As any sports fan will know, there’s nothing like backing up your lofty position with some convincing performances. The UK’s borrowing reached a record high in October, according to official figures published yesterday. Meaning the state of public finances are worse than many economists feared.
Borrowing ballooned by £11.4bn during October, the Office for National Statistics (ONS) said, around double the consensus forecast.
National debt has spiralled to £829.7bn – equivalent to more than 59 per cent of GDP. That compares to £695bn in October last year, 48 per cent of GDP.
Awesome.
More Top Stories
- The Lloyds Prayer
- Forbes World’s Most Powerful People – First Brit is No.29 Gordon Brown
- China – making life worse for everyone?
- Speculation that acquitted Bear guys may start new hedge fund
- Bank of England – Rebuilding Britain or Blowing a Big Bubble
- Bribing Voters With Bonuses
- Lloyd Blankfein Apologises
