David Blackburn

Can it get much worse than this?

£4.3bn in the red, that is the gruesome fact of the government’s January accounts. Never before has the government borrowed money in January, usually a month of surplus as self-assessed income and corporation tax receipts line government coffers. Analysts forecast a surplus of £2.8bn, denoting just how bad the situation is.

Already a subscriber? Log in

Keep reading with a free trial

Get your first month free when you subscribe. After that it’s just £1 a week for full website and app access. There’s no commitment, you can cancel any time.

Offer ends in: ${days} days ${hours} hrs ${minutes} mins ${seconds} secs

Unlock more articles



Flash sale:
10 weeks of unlimited digital access for £1

Join the conversation with other Spectator readers. Subscribe to leave a comment.

Get 10 weeks of online and app access for just £1. That's a saving of more than 80% off the usual rate.

Already a subscriber? Log in