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Concerns over record public sector net borrowing

21 July 2010
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Concerns over record public sector net borrowingThe revelation that public sector borrowing rose to a record high in June this year is "pretty disappointing", one expert has asserted.

Senior economist for the Ernst & Young ITEM Club Andrew Goodwin explained that recent months have seen more promising data on spending released and he warned that the latest figures underline "what an enormous job the chancellor has on his hands to try to regain control".

The latest Office for National Statistics report on public sector net borrowing showed that it totalled £15.2 billion last month, reaching the highest point since records first started in 1984.

Mr Goodwin outlined the pressures that exist on the government and those in the public sector to reduce the Budget deficit, which stood at £13.3 billion in June 2010.

He suggested that the June total may just be a blip, adding: "I think the outlook is stabilising, but equally we are not seeing things start to improve either."

The economist''s comments may interest those in public sector operations management who will be facilitating some of the substantial spending cuts being imposed by the Government in a bid to reduce the UK''s national debt.ADNFCR-3058-ID-19900660-ADNFCR
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