Thursday, Feb 18, 2010
A fresh downward leg in the public finances
FT: Sterling hit as UK borrowing soars
Net borrowing was more than £9bn higher in January than a year earlier, as the government faced a deficit of £4.3bn compared with a £5.3bn surplus in January 2009
The deficit was starkly worse than market expectations of a £2.8bn surplus for the month. Economists had been hopeful of a better outcome following two months of smaller-than-expected government borrowing figures. It is the first deficit in January since at least 1993.
The deficit so far this year is £122bn, compared with a Treasury forecast of £170bn for the full financial year
Posted by devo @ 11:49 AM (713 views) Add Comment
11 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. hpwatcher said...
There should be no doubt in anyone's mind about the economic incompetence of the Gordon Brown Labour government.
2. jack c said...
"The yield on 10-year gilts jumped 5 basis points to 4.18 per cent, the highest level for 15 months, reflecting concerns about............... the deteriorating finances of the UK government"
So which is it to be (using scenes from Dad's Army) ?
Frazer - "we're doomed"
Lance Corporal Jack Jones - "Don't panic! DON'T PANIC!"
3. fallingbuzzard said...
Mister Brown goes off to town on the eight twenty-one
But he comes home each evening ready with his gun
4. jack c said...
Jones: Permission to speak, sir
Jones: Permission to whisper, sir
Jones: Permission to wake you up, sir
Jones: Permission to worry you sir.
5. hpwatcher said...
DON'T PANIC!, DON'T PANIC!
- They don't like it up em'
6. jack c said...
Captain George Mainwaring (Bank Manager) - "Let's not have any of that sort of talk here"
7. hpwatcher said...
We're doomed DOOMED!
8. Chrisvow said...
Captain Mainwaring "How many all?"
9. jack c said...
Mainwaring: Just testing you
10. tenant super said...
Jones: Ohhhh.... don't make any false moves Mr Mainwaring, and don't make any real ones either!
11. jack c said...
Mainwaring: "I think you're entering the realms of fantasy here, Jones"