Menu
23/04/2013
Slight Fall In Government Borrowing
The amount of borrowing by the UK Government has fallen to £120.6bn over the last financial year, the Office for National Statistics has said.
Borrowing also fell in the month of March, from £16.7bn in 2012 to £15.1bn in 2013, as spending cuts across various Government departments began.
Mr Osborne has pushed for spending cuts as part of a wider plan to slash the deficit in order to protect the government's creditworthiness on international markets.
The government wants to eliminate the budget deficit by 2017-2018.
The totals exclude the cost of bank bailouts, cash transfers from the Government's quantitative easing programme and a boost from the Royal Mail pension assets.
The findings come after Chancellor George Osborne was criticised by the International Monetary Fund (IMF) over his austerity programme, while Fitch Ratings became the second agency to strip Britain of its triple-A credit rating. Moody's downgraded the UK's rating in February.
A Treasury spokeswoman said: "Though it is taking time, the Government is fixing this country's economic problems.
"The deficit is down by a third, a million and a quarter new private sector jobs have been created and interest rates are at near-record lows, benefiting households and businesses."
(JP/CD)
Borrowing also fell in the month of March, from £16.7bn in 2012 to £15.1bn in 2013, as spending cuts across various Government departments began.
Mr Osborne has pushed for spending cuts as part of a wider plan to slash the deficit in order to protect the government's creditworthiness on international markets.
The government wants to eliminate the budget deficit by 2017-2018.
The totals exclude the cost of bank bailouts, cash transfers from the Government's quantitative easing programme and a boost from the Royal Mail pension assets.
The findings come after Chancellor George Osborne was criticised by the International Monetary Fund (IMF) over his austerity programme, while Fitch Ratings became the second agency to strip Britain of its triple-A credit rating. Moody's downgraded the UK's rating in February.
A Treasury spokeswoman said: "Though it is taking time, the Government is fixing this country's economic problems.
"The deficit is down by a third, a million and a quarter new private sector jobs have been created and interest rates are at near-record lows, benefiting households and businesses."
(JP/CD)
Related UK National News Stories
Click here for the latest headlines.
02 February 2010
Osborne's 'Solid' Economy Plans
Government plans to halve the budget deficit within four year are not "credible", Tory Shadow Chancellor George Osborne said today. Mr Osborne said a Conservative government would rebuild the UK economy on "more solid" foundations. Savings, exports and greater enterprise should form the basis of an economic recovery, he told senior backbench MPs.
Osborne's 'Solid' Economy Plans
Government plans to halve the budget deficit within four year are not "credible", Tory Shadow Chancellor George Osborne said today. Mr Osborne said a Conservative government would rebuild the UK economy on "more solid" foundations. Savings, exports and greater enterprise should form the basis of an economic recovery, he told senior backbench MPs.
02 February 2011
Spending Cuts 'Hard To Deliver'
The Institute for Fiscal Studies (IFS) have warned that new Government that spending cuts would be "formidably hard to deliver". The institute's comments, made in its Green Budget, aims to assess the UK Government's position before the Budget.
Spending Cuts 'Hard To Deliver'
The Institute for Fiscal Studies (IFS) have warned that new Government that spending cuts would be "formidably hard to deliver". The institute's comments, made in its Green Budget, aims to assess the UK Government's position before the Budget.
01 February 2010
Mandelson Blasts Tory Spending Plans
Business Secretary Lord Mandelson has launched a stinging attack on Tory spending proposals, which he claims would "strangle the recovery at birth". The second highest ranking cabinet figure warned a government led by David Cameron would damage the UK economy by £11 billion.
Mandelson Blasts Tory Spending Plans
Business Secretary Lord Mandelson has launched a stinging attack on Tory spending proposals, which he claims would "strangle the recovery at birth". The second highest ranking cabinet figure warned a government led by David Cameron would damage the UK economy by £11 billion.
23 April 2014
Budget Deficit Falls By 6% In 2013
The UK budget deficit has fallen to its lowest level since the financial crisis five years ago, with borrowing down to £6.7bn in March, compared to £11.4bn for the same period the previous year. According to newly released figures from the Office for National Statistics (ONS) the government borrowed £107.7bn in the 12 months to the end of March.
Budget Deficit Falls By 6% In 2013
The UK budget deficit has fallen to its lowest level since the financial crisis five years ago, with borrowing down to £6.7bn in March, compared to £11.4bn for the same period the previous year. According to newly released figures from the Office for National Statistics (ONS) the government borrowed £107.7bn in the 12 months to the end of March.
25 March 2011
BBC Confirms Pension Deficit Figures
The BBC has confirmed the official deficit figures for the staff pension scheme. Management's proposals for addressing the deficit sparked a major dispute with staff in 2010. The BBC advised senior officials from BECTU and the NUJ that the official deficit figure in the corporation's scheme stands at £1.
BBC Confirms Pension Deficit Figures
The BBC has confirmed the official deficit figures for the staff pension scheme. Management's proposals for addressing the deficit sparked a major dispute with staff in 2010. The BBC advised senior officials from BECTU and the NUJ that the official deficit figure in the corporation's scheme stands at £1.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
