UK Government borrowing soars. Darling cautious on recovery

Government borrowing soars
Reuters Friday 21 August 2009 03:35
LONDON (Reuters) – Government borrowing rose far beyond forecasts to a record for July as tax receipts crumbled in the recession, but stronger-than-expected retail sales suggest a recovery may be on the horizon. July is usually one of the two key surplus months for the public purse but official data on Thursday showed public sector net borrowing of 8.016 billion pounds last month, confounding market forecasts for a deficit of just 500 million pounds.

Darling cautious on recovery
Reuters Friday 21 August 2009 03:35
LONDON (Reuters) – Chancellor Alistair Darling said on Thursday that no country should be complacent about economic recovery given the risks posed by high oil prices and the need to fix banks’ balance sheets. Writing in the Daily Mail’s Friday edition, Darling said Japan, France and Germany’s emergence from recession were welcome news for the British economy.

Advertisements
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: