UK DATA: Borrowing Revisions Give Osborne Extra Stg10bn
–Aug PSNB-X Stg15.934bn vs Stg14.003n in August 2010
–Aug PSNCR Stg11.834bn vs -Stg3.746bn in August 2010
–Aug Current Budget-X -Stg13.839bn vs Stg11.852bn in August 2010
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UK Public Sector Net Borrowing hit a record level for an August,
but significant downward revisions to previous borrowing estimates will
leave Chancellor of the Exchequer George Osborne with a little more room
to maneuver should he be persuaded to ease the current fiscal squeeze.
Figures for 2010/11 now show net borrowing excluding financial sector
interventions revised down by Stg5.9 billion to Stg142.7 billion,
putting it now below the Office of Budget Responsibility forecast of
Stg145.9 billion.
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