Increased December borrowing fuels fear UK could lose its AAA credit rating

Via BBC:

The government borrowed slightly more than expected in December, fuelling fears that the UK could lose its coveted AAA credit rating.

UK public sector net borrowing, excluding financial interventions, hit £15.4bn in December, the Office for National Statistics (ONS) said.

That marked a small rise from the £14.8bn borrowed in December 2011.

The headline figure was slightly worse than expected – analysts had forecast borrowing of £15.2bn.

December’s figure takes total borrowing so far this financial year, excluding a transfer of Royal Mail pension assets, to £106.5bn, some £7.2bn more than for the same period in 2011.

Investec economist Philip Shaw said he still expected the deficit to overshoot the Office for Budget Responsibility’s forecasts from the Autumn Statement last year.

“There are no signs of progress in the public finances,” he added.

And in related news:

Natalija Belova, 33, told The Sun how she spurns full-time work — yet can afford foreign holidays and buys designer clothes.

The Lithuanian said: “British benefits give me and my daughter a good life.”

She has milked soft-touch Britain for £50,000 in benefits and yesterday said: “I simply take what is given to me.”

This whole progressive – socialist scheme doesn’t work however, Dear Leader says “Forward” toward Western Socialism.

Comments
  • Jim at Asylum Watch January 22, 2013 at 2:00 pm

    “This whole progressive – socialist scheme doesn’t work however,”

    Natalija thinks it works just fine. The players play and the payers pay. At least until the payers can’t pay anymore.

    • steve January 22, 2013 at 8:54 pm

      The players play and the payers pay. At least until the payers can’t pay anymore.

      I’m stealing this line…