Misery Index : Jump in Government Borrowing Adds to Misery


Today’s release showing a shock rise in borrowing means Osborne is now at risk of missing his fiscal target for 2010/11. The increase is blamed on higher NHS and defence spending plus more money going to the EU.

The Misery Index calculation reflects the latest figures from the Office for National Statistics and is based on the inflation and unemployment rates plus public sector borrowing in terms of GDP. More government over-spending means more misery…




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Quote of the Day

Dominic Raab wrote in his letter of resignation…

“This is, at its heart, a matter of public trust,” he told the PM, concluding: “I cannot reconcile the terms of the proposed deal with the promises we made to the country in our manifesto at the last election… I believe that the regulatory regime proposed for Northern Ireland presents a very real threat to the integrity of the United Kingdom. I cannot support an indefinite backstop arrangement, where the EU holds a veto over our ability to exit…”

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