18 September 2009

Is the Treasury telling the truth?

On the news that public borrowing reached £16.1bn in August, a record for the month, the Treasury has issued the following statement:

Today's figures are in line with our Budget forecasts. They reflect the impact of the global financial crisis on tax receipts as well as the action we are taking to support the economy right now and invest to benefit from the recovery.

Presumably, the Treasury is quoting from a Budget forecast that has yet to be leaked?

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