UK Borrowing Hits Record High of £14.4B in August

UK Borrowing Hits Record High of £14.4B in August

This is the highest deficit for August since records began. If the creative accounting for the Royal Mail pension scheme is ignored, public sector net borrowing for April to August 2012 increased 22% to £61B; £13B higher than in the same period last year.

This yet again proves that public spending is out of control. Receipts are NOT the issue; spending is.

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