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Scandinavia Today / Europe



The British government continues to borrow more that expected.

Tuesday, 22 January 2013
Signs that the British economy is going nowhere emerged today as new numbers show that the British government, which has imposed strong austerity, continued to borrow more than expected in December.
Departmental spending rose according to official data released Tuesday, questioning whether the UK economy will slide into triple dip recession. It also question the Chancellor of the Exchequer, George Osborne will meet his task of borrowing targets for the financial year.

The Office for National Statistics said public sector net borrowing, the government's preferred measure of the budget deficit, was 15.4 billion pounds ($24.4 billion) in December, up from GBP14.8 billion in the same month in 2011. The figures exclude interventions in the financial sector, report Dow Jones News,  which also add that economists polled by Dow Jones Newswires had forecast the government would borrow GBP15.2 billion in December.
Details and more on the BBC

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