This adds strength to Osborne's case -
http://www.bbc.co.uk/news/uk-politics-11579979
Quote:
Ahead of Mr Osborne's statement, it emerged that the government had borrowed a record £16.2bn to plug the gap in the public finances in September.
The figure, from the Office for National Statistics, marks the highest borrowing for September on record, and is unexpectedly up on the £14.8bn borrowed in the same month last year.
|
We're also still waiting on Labour's long overdue alternative version, the only information being they would plug the gap 60:40 between spending cuts and tax rises as opposed to the 70:30 on the coalition side.
It'll be interesting to see what the response is from Labour especially and if it has genuine substance, as was promised months ago with claims they would be producing a shadow budget and a shadow PSR, neither of which have emerged.
EDIT: More good news -
http://www.guardian.co.uk/business/2...high-september
Quote:
|
Interest payments rose to £2.3bn from £912m in September 2009.
|
Certainly the economists the Guardian spoke to seem pretty clear -
Nasty but necessary seems to be the general view, no consolation to those directly affected though.