Following the longest recession in history Britain posted its first-ever budget deficit for the month of January. Usually January is a bumper month for tax receipts. Unfunded government over-spending was £4.3 billion, when consensus economists were forecasting a £2.6 billion surplus, according to the median of 16 forecasts in a Bloomberg News survey.
Don’t rule out a double-dip recession. With neither the Conservatives or Labour offering policies to kick-start consumer spending and GDP growth, we could be in a lot of trouble…