Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK government borrowing hits £16 billion in November

With the UK government borrowing deficit as a whole well over £500 billion news that last month's deficit alone topped £16 billion should not come as much of a surprise. However, the situation is set to get much worse and experts, as well as the government, have already admitted the total figure will hit over £1 trillion before the UK economy recovers. This would mean that consumers and taxpayers will be hit with massive taxes as and when the economy picks up in order to replenish and reduce national debt in the future.

The current Labour government policy of spend spend spend has to be paid for at some time and the UK taxpayer will be the pot from which the money is taken. Depending when and how the money is recovered could well make or break Gordon Brown's attempt to win the next general election. Taxpayers have been willing to fund the various rescue packages in exchange for a recovery in the economy and even the potential for a return. However, these returns and promised benefits have yet to materialise and the UK taxpayer is now losing patience with the policy and the strategies involved.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details