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Government borrowing falls to £13.7bn in December
Comments
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This is still an alarmingly high level. The government will have current receipts around £590bn this tax year, so, they're borrowing more than 2% of total income in December.
If the government was a family earning, after tax, £26,000 a year they'd be borrowing more than £600 in December and a projected £5,600 over the tax year. The deficit is being reduced slowly but whether it's quick enough to stop Britain becoming Greece is still the overriding question of our time.
A little bit of hyperbole when Greece deficit exceeds 120% of GDP and the UK's currently is 64% of GDP.
Admittedly this excludes financial interventions.
At least current government expenditure fell in Dec 2011 versus Dec 2010. (whoops)US housing: it's not a bubble - Moneyweek Dec 12, 20050 -
current government expenditure fell in Dec 2010 versus Dec 2010
Are you a politician in disguise :eek:'In nature, there are neither rewards nor punishments - there are Consequences.'0
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