The Office for National Statistics (ONS) has today revealed public sector borrowing totalled £14.5 billion in June.
While the figure was slightly lower than the £14.7 billion seen in June last year, it surprised economists who expected the figure to be around £13.1 billion.
Overall, Government debt stands at £926.9 billion – the equivalent to 63.9% of [...]
The Office for National Statistics (ONS) has today revealed the UK Government borrowed £16 billion in May.
However, the figure was lower than the £18 billion expected and was 8% less than the figure in May 2009.
Overall, Government debt stands at £903 billion – the equivalent to 62.2% of GDP – the highest ever.
However, public [...]
The European Commission today gave the Baltic republic of Estonia the go ahead to adopt the euro on 1 January 2011.
The announcement comes at a time when many nations in the euro zone are implementing tough austerity measures in order to cut their budget deficits.
A €500 billion (£433 billion) emergency rescue package was announced earlier [...]
The Confederation of British Industry (CBI) is calling on the Government to provide a ‘credible’ economic plan for balancing public finances by 2016 – two years earlier than planned.
The business group believes that Chancellor, Alistair Darling, should use his last Budget before the general election to give more details of spending plans for Whitehall [...]
A report by the Institute for Fiscal Studies (IFS) has said the Government needs to be ambitious in tackling the public finances but warned that economic recovery should not be put at “undue risk”.
The Institute believes an extra £13 billion in tax hikes or spending cuts is required by 2015-16 in order to repair [...]