Quote:
Originally Posted by Hugh
The extra £75 billion of borrowing.
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How so? (Sorry, this isn't my forte).
The BBC report you link to states
"The forecast for borrowing next year has been raised from £68.7bn to £75.9bn, but the predictions for the years after that have improved."
Osborne was cited in
2010 as having said
"...that he would commit to a mandate of removing the structural current deficit - which adjusts for the effect of the economic cycle and ignores investment spending - and start cutting into the national debt by 2015/16. However, he added that he would achieve this goal a year earlier than expected."
As far as I am aware he has not achieved this goal and will
, as the BBC appears to confirm, have to borrow an addititonal £75bn to continue in his attempts to do so.That is, by definition at least, £75bn beyond what he had anticipated needing to borrow to get the job done. As I say, not my forte but happy to learn.