Squandermania: Osborne Misses Borrowing Target For This Year

OSBORNE MISSES TARGETS

New figures from the Office for National Statistics show that – shocker – Osborne has missed his borrowing targets again. The 2015/16 financial year left a budget deficit of £74 billion, that’s £1.8 billion more than the ONS’ £72.2 billion forecast. Net public sector debt is just shy of £1.6 trillion.

Osborne has missed every single deficit target he has set himself. He asked us to judge him on how well he tackled the deficit, well he missed his borrowing target for 2015/16, he missed his balanced budget target for 2015, he’ll miss his new adjusted target for 2016 and his overall balanced budget target for 2020.

The Treasury are focusing on the fact that March saw the lowest public borrowing in a decade. A mere £4.8 billion…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Michael Gove in the present tense…
‘The Prime Minister is doing a great job at the moment’

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Twitter Versus the Dead Tree Press Twitter Versus the Dead Tree Press