UK government public sector borrowing has increased to £12.4 billion
in June, up £500 million on the same month last year, The Office for
National Statistics (ONS) has reveled.
The amount of borrowing, excluding distortions such as bank bailouts and quantitative easing (QE) cash transfers, hit £12.4 billion which marks a slight rise from the £11.9 billion in June last year, the ONS said.
The current public borrowing seems to be another blow to the British Chancellor George Osborne™s plans to reduce budget deficit, as it suggests he is making no headway in bringing the deficit down in 2013-14.
œThese disappointing figures show that our stalled economy has led to deficit reduction grinding to a halt,” Shadow Treasury minister Chris Leslie said.
The Labour MP added that Osborne is borrowing billions of pounds to pay for œthe costs of his economic failure”.
Earlier in June, the opposition accused the British government of failing to reduce the amount of public sector borrowing.
MOS/HE
Republished with permission from: Press TV
The amount of borrowing, excluding distortions such as bank bailouts and quantitative easing (QE) cash transfers, hit £12.4 billion which marks a slight rise from the £11.9 billion in June last year, the ONS said.
The current public borrowing seems to be another blow to the British Chancellor George Osborne™s plans to reduce budget deficit, as it suggests he is making no headway in bringing the deficit down in 2013-14.
œThese disappointing figures show that our stalled economy has led to deficit reduction grinding to a halt,” Shadow Treasury minister Chris Leslie said.
Earlier in June, the opposition accused the British government of failing to reduce the amount of public sector borrowing.
MOS/HE
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