UK Treasury: Public Finance Data Prove Deficit Action Needed

LONDON (MNI) – Today’s public finance data show just why the
government had to take action to tackle the budget deficit, the UK
Treasury said.

A spokesman for the Treasury said that, “although broadly in line
with the OBR’s Budget forecast, today’s borrowing figures demonstrate
just why the Government needs to tackle the deficit”.

He continued: “The increase in borrowing compared to the same
month last year is more than accounted for by the increase in debt
interest of stg2.5 billion…”

“If the Government had not announced decisive action to bring
borrowing down, debt interest would have been over stg65 billion by
2014-15, more than is spent on schools or defence.”

–London bureau: email: ukeditorial@marketnews.com

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