domingo, 22 de julio de 2012

George Osborne urged to 'get a grip' as Britain's benefits bill rose to ... - The Sun

CHANCELLOR George Osborne was urged to "get a grip" last night as Britain's benefits bill rose to £22million an hour.

Shock figures yesterday showed the Government was forced to borrow another £14.4billion in June.

Borrowing since April is 12 per cent higher than a year ago. The Chancellor had forecast a 4.6 per cent FALL.

The state paid out a staggering £47.6billion in benefits between April and the beginning of July. That is up almost eight per cent on a year ago — and equivalent to £523million a day or £21.8million an hour.

The TaxPayers' Alliance said: "This benefits bill has spiralled out of control and we have to keep borrowing to pay for it. We cannot seriously hope to fix our public finances without getting a grip on it."

Stunned experts warned the Government is set to fall way short of this year's debt-cutting targets.

Yesterday's official figures mean Britain's debt is £1.04trillion. But if the cost of bank bailouts are included, the total balloons to £2.3trillion — nearly 1½ times the country's annual economic output.

As well as the soaring benefits bill, the Treasury has suffered from poor tax revenues as the double-dip recession hammers business.

Labour's Rachel Reeves said: "By choking off recovery and pushing the economy into recession the Chancellor has ended up borrowing more — as we repeatedly warned."

The Treasury said it was "too early" to draw conclusions about 2012 and figures were likely to change.

steve.hawkes@the-sun.co.uk

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