Government needs credible plan on public borrowing
October 20, 2009 10:01 AM
Figures released today by ONS revealed that public borrowing ballooned by a further £14.8bn in September.
Liberal Democrat Shadow Chancellor, Vince Cable said:
"With record borrowing in September and national debt now at almost 60%, it is clear that at the very least we are on course to hit borrowing of £175bn this year.
"With public borrowing continuing to soar the Government needs a credible plan as to how it will restore the health of the public finances.
"The Government must clearly identify what spending it intends to cut to bring the deficit under control otherwise it will have to be assumed it intends to squeeze budgets across the public sector hurting vital public services."
