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Monday, July 22, 2013

Labour proved wrong on the economy again

Although the main focus for the Coalition Government remains tackling the deficit so as to start repaying debt, that has not stopped our opponents from focusing on the level of central government borrowing.

Labour have consistently pointed out that borrowing is rising, as if they had a record to be proud of in this regard. In particular Labour MPs hit out at last year's figures, which they claimed showed that the Coalition was off course.

Will Ed Balls apologise now that the latest data from the Office of National Statistics shows that in fact Government borrowing actually fell by £2.1 billion on the previous year in 2012-13?

The conclusion is that three months into the fiscal year, the government remains on course to reduce the budget deficit in line with its forecasts.
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