Brexit & EconomyPoliticsTreasury shortfall widens

Treasury shortfall widens

The gulf between tax receipts and government borrowing widens as the Treasury suffers its worse December on record in terms of the deficit

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,
Office
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

Related Articles

5 key takeaways from Theresa May’s Florence speech

Brexit 5 key takeaways from Theresa May’s Florence speech

3m Alia Shoaib, Reporter
UK at risk of Brexit talent brain-drain

People Practice UK at risk of Brexit talent brain-drain

3m Alia Shoaib, Reporter
Brexit essentials: this week's round-up

Politics Brexit essentials: this week's round-up

4m Alia Shoaib, Reporter
Government publishes post-Brexit customs arrangements policy paper

Politics Government publishes post-Brexit customs arrangements policy paper

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

4m Emma Smith, Managing Editor
Increased government spending partly offset by high tax revenue

Governance Increased government spending partly offset by high tax revenue

5m Alia Shoaib, Reporter
Less than a third of UK businesses have made formal Brexit plans

Politics Less than a third of UK businesses have made formal Brexit plans

5m Alia Shoaib, Reporter
Nicky Morgan elected Chair of the Treasury Committee

Politics Nicky Morgan elected Chair of the Treasury Committee

5m Alia Shoaib, Reporter