Chris Leslie MP, Labour's Shadow Financial Secretary to the Treasury, responding to today's public sector finance figures, said:
“Strip away the smoke and mirrors, like the transfer of cash from the Bank of England, and underlying borrowing so far this year is rising and is £5.3 billion higher than the same period last year.
“A flatlining economy means the Government is borrowing more to pay for economic failure as the welfare bill is up. By failing on growth and jobs, David Cameron and George Osborne are failing on the one test they set themselves – to get the deficit and debt down.
“The longer this stagnation and failure continues, the worse off our country will be and the worse off families and pensioners will be. But instead of helping ordinary working families, David Cameron and George Osborne have decided to give millionaires a tax cut in six weeks’ time.
“We urgently need a change of course from this Government to create the growth and jobs needed to get the deficit down. Clinging on to this failing plan will mean borrowing, more long-term damage to our economy and more years of falling living standards.”<div>