Friday, 21 September 2012

Borrowing reaches record high in August 2012

Public sector net borrowing hit a record £14.41bn in August, the Office for National Statistics revealed today, compared with £14.37bn at the same time last year.
According to the Public sector finances bulletin, borrowing by central government rose by £700m to £13.5bn as spending increased faster than income. Expenditure rose by 2.5% and receipts by 1.8%. In the same period, local government borrowing fell by around £1bn, while public corporations borrowed around £400m more.

courtesy of Public Finance210912

No comments:

Post a Comment