Government borrowing higher than last year – it’s hurting – and it’s not working

Government borrowing has risen. The amount borrowed by the government in the first two months of 2012/13 is NEARLY FOUR BILLION HIGHER than  the first two months of 2011/12 (stripping out the one-off effect of the Royal Mail pension funds coming onto the Government’s books).

As the country returned to recession and growth disappears, Public Sector Net Borrowing is £3.9 billion more, not less, than it was over the same period last year.

Lets take a look at that in chart form:

It’s hurting. It isn’t working.