Could borrowing be a lot lower by the election than anyone now expects?
Tag Archives: borrowing
New data published this week shows that banks are still not lending to British businesses, despite the government’s much trumpeted Funding for Lending scheme.
In the wake of changes announced by chancellor George Osborne last week on the amount at which a credit union can charge in interest for one of its loan products, Joseph Wright of Civitas has written a paper entitled Credit Unions: A Solution to Poor Bank Lending? exploring the industry and its rates.
The below graph shows the additional borrowing in each year compared to the estimates at the Autumn Statement in December.
Against the backdrop of the loss of the triple-A rating much coveted by Conservative Ministers – and trivialised by others – Cable is right again. Wednesday’s remarkable New Statesman article makes plain the case for a new economic strategy, and the need for as elegant as possible a reversal of Osbornomics that was itself eclipsed by Cable in the economic debates of 2010.
The shortfall from the sale of 4g broadband capacity means chancellor George Osborne will be under increasing pressure to make greater cuts.
Following Friday’s poor growth figures, Ed Miliband went after David Cameron on his failing economic record at today’s Prime Minister’s Questions.
Latest figures show borrowing is continuing to rise.
Borrowing will be up £56 billion over the next five years.
The Institute for Fiscal Studies have said today’s public sector finance figures will result in a feeling of “déjà vu” for the chancellor.