The latest ONS figures (published today) show that public sector net borrowing (excluding the impact of the Royal Mail transfer) in the first 9 months of 2012/13 is £106.5bn. In the same period of last year it was £99.3bn. That’s a rise of £7.2bn (or 7.3%). Here’s the customary graph:
Public Sector Net Borrowing (£ Billions)
Forecasts from the Office for Budget Responsibility showed that between 2010 and 2015, the government is expected to borrow £212 billion more than planned at the time of the 2010 spending review…Osborne isn’t working.