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Soaring public borrowing fuels spending cuts row

Source: The Independent

London : United Kingdom | 2 months ago

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Now Labour have done it in just one month with a new August borrowing record. "These shocking figures show the depth of Gordon Brown's debt crisis and just how irresponsible he was to pretend that spending cuts weren't necessary." A Treasury spokesman said today's figures were in line with...

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News Stories

Britain Posts Record August Budget Deficit

News Source: Khaleej Times | 2 months ago

Britain posted a record budget deficit for an August last month as the recession continues to bite into government tax receipts, official figures showed on Friday. The Office for National Statistics said the public sector net cash requirement stood...
Public sector borrowing soars to record in August

News Source: The independent | 2 months ago

The dire state of the UK's finances was further exposed yesterday with "shocking" data which showed that government borrowing soared to a record level in August. The Office of National Statistics said that public sector net borrowing last month...
Daily Telegraph, UK: Government borrowing hits record high

News Source: Androscoggin News | 2 months ago

David Cameron, leader of the Conservatives, said: "Our Government seems to have been entirely asleep on the job. They have completely lost control of the nation's finances. " A Treasury spokesman said the figures were "broadly in line" with Budget...
Daily Telegraph, UK: With pound heading for euro parity, Brown's legacy ...

News Source: Androscoggin News | 2 months ago

We will no doubt feel a shiver of humiliation as one of the world's oldest currencies sinks to parity with one of its newest. The pound's weakness will be seen as an outward sign of the UK economy's decline, of our national loss of economic power and...
Public debt hits £800m - the highest on record

News Source: Times Online | 2 months ago

Taking fright at the figures, foreign exchange dealers sent sterling diving to a four-month low against the euro. The value of the pound fell by more than 1 per cent against the dollar. Analysts said that the Budget forecast by Alistair Darling, the...
Tory election promises could cost £54bn

News Source: The Independent | 2 months ago

Election promises made by David Cameron would cost a future Conservative government up to £54bn in five years, despite the Tory promises that they will cut taxes and reduce public debt. The calculations were slipped out by the Treasury on the same...