“Borrowing up, inflation up, living standards falling- this is Tory Britain” says Steve McCabe MP

Figures released today by the Office for National Statistics reveal that the coalition government borrowed more than expected in June, meaning the Chancellor is set to break his promise to balance the books by next year.

Borrowing totalled £11.4 billion over the month, higher than the £10.7 billion forecast by economists, and £3.8 billion more than in June 2013.

 

Commenting on the figures, Steve McCabe, MP for Birmingham Selly Oak, said:

“The Chancellor can stop kidding himself and should admit now that he will not balance the books by next year, borrowing is now expected to be almost £190 billion more than planned under this Government.

 

“Borrowing is up, inflation is up and living standards are falling - this is Tory Britain and my constituents deserve better.”

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