Oh dear (tm): Britain at risk of worse deficit crisis than Greece

[OwlHoot]

..

Britain is at risk of a Govenment deficit crisis worse than that of Greece, sparking serious fears over the economic stability of the country.

In surprise news which sent the pound sliding on Thursday, official figures showed that the Government borrowed £4.3 billion last month.

It was the first time since 1993 that the public finances had gone into the red in January – a month in which tax revenues usually push the Exchequer into the black

Such a deficit would, at 12.8 per cent of British gross domestic product,

:::

Sorry too tired to put CUK favourites AtW comments...

Not to worry, Alexie, I've highlighted the salient points for you.

[TimberWolf]

I and many others saw this coming back in 2001 when the government went all out trying to destroy technology jobs in the UK by greasing the outsourcing and insourcing wheels, as well as making life as difficult as possible for IT contractors.

[suityou01]

Not to worry, Alexie, I've highlighted the salient points for you.

coffee + monitor moment

[Gonzo]

Hang on a minute. This is from the BBC website

It is the first time the government has borrowed money in January - usually a bumper month for income from tax receipts - since records began in 1993.

Linky

Records began in 1993?

WTF were they doing before that?

[AtW]

WTF were they doing before that?

All records probably lost in floods of 1992

[HairyArsedBloke]

Tulip, I'm still holding everything I own in Sterling too

[DimPrawn]

I and many others saw this coming back in 2001 when the government went all out trying to destroy technology jobs in the UK by greasing the outsourcing and insourcing wheels, as well as making life as difficult as possible for IT contractors.

New Labour Friends of India.

http://www.youtube.com/watch?v=N7K4Q-QM0UA

Ensuring the business barriers of sending work to India is as low as possible.

[Moscow Mule]

Hang on a sec - isn't this just the yearly figure that is worse than Greece? Their overall deficit is much worse than ours IIRC???