George Osborne will be hoping that the today’s figures on public borrowing provide better news than last month’s release.
The latter showed a big increase in net borrowing, which rose dramatically to £10 billion in April 2011 compared with £7.3 billion the previous year.
While there may have been exceptional reasons for the increase, another disappointing month will feed concerns that the government will fail to meet its deficit reduction targets.
If borrowing is higher than expected, this may be the result of sluggish economic growth feeding into lower-than-forecast tax revenues.
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