Gov’t. Borrowing Jumps 46%

Gov’t. Borrowing Jumps 46%

The Government borrowed £8.6B in October, up from £5.9B last year on the back of a 22% rise in spending during the first 6 months of the new financial year. The Institute for Fiscal Studies (IFS) now estimate that the full year deficit will be £135B as compared to the £120B budget set in April 2012, setting another new record.

Business owners need to protect their wealth now from the austerity measures yet to come.

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