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Commenting on figures from the Office for National Statistics published today (Tuesday) which show government borrowing of £25.1 billion in the financial year to date, TUC General Secretary Frances O’Grady said:

“The Chancellor keeps shifting the goal posts on government borrowing, but over this financial year he is expected to borrow three and a half times more than expected to bail out his failed economic plan – that’s £70bn instead of £20bn.

Commenting on figures from the Office for National Statistics published today (Tuesday) which show government borrowing of £25.1 billion in the financial year to date, TUC General Secretary Frances O’Grady said:

“The Chancellor keeps shifting the goal posts on government borrowing, but over this financial year he is expected to borrow three and a half times more than expected to bail out his failed economic plan – that’s £70bn instead of £20bn.

“After the longest recorded squeeze on living standards, income tax revenues and national insurance receipts are still way down on expectations. With interest rates on government borrowing at rock bottom, this is the perfect opportunity for the Chancellor to invest in skills, infrastructure and much-needed affordable housing. But rather than learning from his mistakes the Chancellor cut back on infrastructure spending in this month’s Budget.

“We need a better plan for sustainable high-productivity growth that will deliver the quality jobs and decent services working people need.”

NOTES TO EDITORS:
- All TUC press releases can be found at www.tuc.org.uk
- Follow the TUC on Twitter: @tucnews
- Congress 2015 will be held in the Brighton Centre from Sunday 13 September to Wednesday 16 September. Free media passes can be obtained by visiting www.tuc.org.uk/MediaCredentials2015 and completing an online form. Applications must be in by noon on Tuesday 25 August. Any received later than that will be processed in Brighton and will cost £75.

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