Thursday, June 18, 2009

This can’t go on indefinately.

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 (1052 views)
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3 thoughts on “This can’t go on indefinately.

  • flintster1994 says:

    “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?

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  • matt_the_hat says:

    Green shoots, recovery – b0ll0ck5 the UK has IMPLODED

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  • Gordon Brown – end game starts.

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