ECONOMICS COMMENTARY
Feb 21, 2013
UK Government borrowing still set to rise despite healthy January surplus
Government borrowing figures were much better than expected in January but, with just two months of the tax year remaining, borrowing is still up 1.6% on last year and the government's target for the year looks likely to be missed by perhaps "5-10bn. The Chancellor will need to reassure the markets and credit rating agencies in the Budget that policies can be put in place to revive the stagnant UK economy and break the cycle of weak growth, low tax revenues and rising government borrowing.
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