UK public borrowing soars to new record

The Independent - Public borrowing ballooned by a further £14.8 billion in September, official figures showed today. The latest surge takes net borrowing to £77.3 billion for the six months of the financial year so far – the highest half-yearly figure since Office for National Statistics (ONS) records began in 1946. The Treasury expects borrowing to reach a record £175 billion for the year as a whole as the public finances buckle under the impact of recession. Read Article

Tags: 2nd Great Depression, debt & wealth, Europe