Public Sector Borrowing Falls
Published / Last Updated on 21/10/2012
Public Sector Borrowing Falls.
The Office for National Statistics has revealed that the UK Public Sector borrowing fell in September from £13.bn in the same month last year to £12.8bn. The Coalition government has set its target to have no structural debt by 2015. This does not mean our £1 trillion debt be gone, it means that it will be balanced.
Our view
In simple terms, the rate of our overdraft increase is slowing down and by 2015 public sector income should exceed expenses. We will of course still be overdrawn as it does not mean our £1 trillion debt be gone, it just means that it will be balanced and we may start paying some debt back.