ECONOMICS COMMENTARY
Jan 22, 2013
UK government borrowing higher than expected as weak economic growth hits tax revenues
Government borrowing appears on course to be higher than planned for the current year, as austerity measures have failed to reduce government spending and weak economic growth has resulted in disappointing tax revenues. The danger is that the data add to the risk of the UK losing its AAA credit rating, a risk that will intensify significantly if Friday's GDP report shows the UK entering a new downturn.
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