Government borrowing grows - papers 22 January

The government's ability to balance its books ranks high among today's news stories following yesterday's release of figures by the Office for National Statistics, which showed public sector borrowing jumped markedly during the first three quarters of the current fiscal year. Investment in public services is running a double the rate compared to the same time last year and the tax take has increased just 3%, says the Telegraph. It is not surprising, then, that the public sector net borrowing has gone from a surplus of more than £3bn last year to a deficit of more than £6bn this year. ...