UK borrowing likely to reach beyond £175bn for the year
Just to make everyone feel better about their own personal finances, UK government borrowing hit £77.3bn in the first six months of the fiscal year. And spending is expected by many analysts to go beyond the predicted £175 bn by the end of the year. Hetal Mehta, senior economic adviser to the Ernst & Young Item Club, was quoted in the Guardian saying the data confirmed “what a sorry state the public finances are in”. By the end of September total …
Just to make everyone feel better about their own personal finances, UK government borrowing hit £77.3bn in the first six months of the fiscal year. And spending is expected by many analysts to go beyond the predicted £175 bn by the end of the year.
Hetal Mehta, senior economic adviser to the Ernst & Young Item Club, was quoted in the Guardian saying the data confirmed “what a sorry state the public finances are in”.
By the end of September total net debt had risen to £824.8bn, equivalent to 59% of GDP.
