Treasury shortfall widens

The Treasury had to borrow a net £7.8bn in December to tide itself over as
the chasm between its spending and the amount brought into its coffers expanded
to record proportions.

The monthly deficit was £5.1bn for the last month of 2007 which eclipsed all
previous Decembers and was £1.4bn higher than the same month last year,
for National Statistics
figures showed.

Net borrowing for the financial year to date climbed to £43.6bn, £11.4bn more
than in the same nine months in 2006-07 significantly more than Mr Darling’s
full-year forecast of £38bn for 2007-08.

Further reading:

Oh Darling:
Chancellor gets budget boost

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