Thursday, Jun 18, 2009
This can't go on indefinately.
BBC News: Public borrowing at record levels
UK public sector borrowing was the highest on record in May, the Office for National Statistics said.
Public sector net borrowing was £19.9bn in May, and has already reached £30bn in the first two months of the financial year.
This is double the level of one year ago, and even higher than the £19bn borrowed in March.
The total outstanding government debt has risen to £774.8bn, £150bn more than one year ago, equal to 54.7% of UK GDP.
Posted by flintster1994 @ 11:12 AM (678 views) Add Comment
3 Comments
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1. flintster1994 said...
"Corporation tax receipts fell by 27%, VAT revenues were down 18%, and income tax fell 11% compared with the same month in 2008."
Wonder what the stamp duty figures looked like?
2. matt_the_hat said...
Green shoots, recovery - b0ll0ck5 the UK has IMPLODED
3. Thewokman said...
Gordon Brown - end game starts.