– Treasury spokesman
Borrowing figures for August this year are better than the markets expected and, for the first month this financial year, in line with those of last year.
This underlines why, at such an uncertain time, we should not second guess what the Office for Budget Responsibility will forecast later in the year, by which time it will have further months' data to draw on.
The level of Government borrowing remained unchanged last month at £14.4 billion in August, equal to borrowing in the same month last year. It puts the Chancellor under pressure after he pledged to start bringing down debt in 2015/16.