Tuesday, May 24, 2011
Public borrowing still uncomfortably high
Posted by David Smith at 11:00 AM
Category: Thoughts and responses

The good news in the latest public finance figures was that public sector net borrowing for 2010-11 was revised down to 139.4 billion, 6.5 billion below the Office for Budget Responsibility's March forecast and some 17 billion below the outturn for 2009-10.

The bad news was that borrowing for April 2011, 10 billion, was well up on the 7.2 billion figure for April 2010. There are, as always, special factors but the big picture is that spending is still rising quite rapidly in cash terms. More here.