BGN Entrepreneur

Sterling headed south in the wake of further evidence that the black hole in UK’s national finances deepened last month.
Official figures revealed that tumbling tax receipts pushed the budget deficit and national debt tot record levels in June. In a worrying revelation, public sector net borrowing ballooned to £13bn las month, which was £5.5bn more than a year ago and the highest level for a month of June ever since records began in 1974.
The shortfall sent the national debt soaring to £799bn, which is a record 56.6% of national output.
Although the figures were not as bad as expected, they did nothing to dispel fears that the national accounts are in danger of getting out of control.

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