The UK has posted a record budget deficit for the public sector in May.

The May current deficit was £8.7bn, £1bn higher than a year ago, the Office for National Statistics (ONS) said.

 

Public Sector Net Borrowing (PSNB) - which includes capital investment - showed a deficit of £10bn, the second highest figure on record.

 

Rising government spending was mainly responsible, the ONS said, although lower corporate tax receipts also contributed.

 

Another measure of public borrowing, the public sector net cash requirement, reached £7.4bn, £2.3bn higher than one year ago, and the highest for May on record.

 

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hmph, at least yours is in the billions and not TRILLIONS!!!!! if everyone decided to cash in on their debts, we would be :censored: screwed...