Borrowing down

Figures recently released show that government borrowing is the lowest for 17 years - e.g. since well before the 2008 crash - and a record January surplus (more money coming in than going out.)

There is often a budget surplus at this time of the year because of when the money is collected and spent but this is better than usual.

Remember, in 2010 the Coalition inherited the unsustainable position where the government was spending four pounds for every three pounds of revenue coming in.

In my opinion to get Britain's finances onto a more sustainable position we need to gradually reduce government debt rather than just reduce the rate at which it is going up. (I emphasise gradually because trying to do it rapidly could precipitate a recession.)
Nevertheless this is good progress.



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