BusinessCompany NewsPublic finance results a blow to Brown

Public finance results a blow to Brown

The UK government has suffered another set of disappointing public finance results, casting yet more doubt over the true state of the economy.

Link: Brown to face grilling over forecasts

Official figures published on December 20 showed that in November the government had to borrow almost £10bn (£9.4bn).

Total government borrowing for the year so far now stands at more than £32bn.

City experts believe the government is on course to borrow around £40bn for the whole of 2004, which is £6bn more than estimated by Gordon Brown in his recent pre-Budget report.

It has fuelled speculation that taxes may have to rise to meet the rising cost of borrowing.

The Treasury, though, remained upbeat and said it was on course to meet its forecasts.

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

12m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor