...to reduce the 'budget deficit' which goes towards paying back interest on loans that can never be repaid. Despite all the slashing of basic public services and spending, the UK government is consistently borrowing more than it anticipated in order to do so. If people don't think the sort of 'austerity' that has occurred in central Europe is coming to an island near you...well, they must be pretty naive. Worth noting the bolded section as well.
UK public sector borrowing worse than expected in October
The government borrowed much more than expected in October, reducing the chances that the UK will hit its deficit reduction target in 2012-13.
UK public sector net borrowing, excluding financial interventions, hit £8.6bn in October, the Office for National Statistics (ONS) said.
That marked a sharp rise from the £5.9bn borrowed in October 2011.
This is the last set of borrowing figures before the chancellor's Autumn Statement on 5 December.
The headline figure was worse than expected - analysts had forecast borrowing of £6bn.
Corporation tax receipts fell nearly 10% in October, a month when there is usually a heavy inflow to boost the public coffers.
A rise in day-to-day departmental spending also contributed to the higher borrowing.
For the six months of the financial year so far, borrowing has reached £73.3bn, excluding the one-off effects from the transfer of Royal Mail pension assets.
That is £5bn higher than the same time last year.
Full article is here:
www.bbc.co.uk/news/business-20424492 
