Tag Archives: government borrowing

23 May 2023 – today’s press releases

  • Debt Figures: Proof of more Govt economic mismanagement
  • Raab must stand down now and trigger by-election
  • Braverman: Sunak’s endless dither and delay must end now
  • Dentist Numbers: Sunak must correct the record

Debt Figures: Proof of more Govt economic mismanagement

Responding to the latest debt figures which show the UK borrowed more than expected last month, Liberal Democrat Treasury Spokesperson Sarah Olney MP said:

These figures continue to show the mess caused by the Conservative Government’s economic mismanagement. The British taxpayer is still feeling the hit from Liz Truss’ disastrous mini-budget.

It is frankly shocking that the Government has still not put people first by putting a proper windfall tax in place and reversing its unfair tax cuts for the big banks.

It is safe to say that the Conservatives can never be trusted to run our country’s economy ever again.

Raab must stand down now and trigger by-election

The Liberal Democrats have called on Dominic Raab to stand down now and trigger a by-election, warning that the people of Esher and Walton deserve better than a “bully MP who has thrown in the towel.”

It comes after the Liberal Democrats overtook the Conservatives to become the largest party on Raab’s local Elmbridge Council at the local elections on 5 May, gaining six councillors.

The Liberal Democrats topped the poll in the Esher and Walton constituency at the local elections, gaining 41% of the vote compared to 31% for the Conservative Party.

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25 April 2023 – today’s press releases

  • ONS debt stats: Voters will never forgive the Conservatives for their economic vandalism
  • Government announces refusal to make misogyny a hate crime
  • Sewage vote: Scandalous that Conservative MPs have blocked the Sewage Discharge Bill

ONS debt stats: Voters will never forgive the Conservatives for their economic vandalism

Responding to new ONS debt statistics which show net borrowing the 4th highest since records began, Liberal Democrat Treasury Spokesperson Sarah Olney MP said:

The Government’s shambolic mismanagement added billions to the UK’s borrowing whilst leaving our economy growing at a snail’s pace. Voters will never forgive the Conservative party for the economic vandalism of the

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21 March 2023 – today’s press releases

High borrowing: Govt blew a hole in our public finances

Responding to the latest ONS statistics which show public sector net borrowing at the highest February total since records began, Liberal Democrat Treasury Spokesperson Sarah Olney MP said:

This Conservative Government blew a hole in our public finances and made hard-working families pay for it through unfair tax rises, higher mortgage bills and soaring inflation.

The Chancellor could have taken action in last week’s Budget to put our economy on the right track, but instead we saw a total lack of ambition and no economic plan.

Instead of

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24 January 2023 – today’s press releases

  • Borrowing Figures: The Govt have no economic competence left
  • Stockport becomes first council to launch a sewage inquiry amid public outrage
  • Mark Drakeford Challenged on Abysmal Ambulance Waiting Times

Borrowing Figures: The Govt have no economic competence left

Responding to the latest borrowing figures, Liberal Democrat Treasury Spokesperson Sarah Olney MP said:

A toxic combination of Conservative incompetence and reckless decision making at the top of Government have blown a hole in the country’s finances, and now ministers are making British families pay for it.

A long-list of Conservative Chancellors have hiked taxes, added hundreds of pounds a month to mortgages and left the country with unnecessarily high borrowing costs. The British public will never trust the Conservative party again with the economy. This Conservative Government doesn’t have a shred of economic competence left after months of chaos.

Stockport becomes first council to launch a sewage inquiry amid public outrage

  • Water company hauled in front of public meeting to defend thousands of hours worth of sewage discharges into rivers
  • The Environment Agency confirms in written evidence that water quality is “poor” and the Water Industry “is responsible”
  • Chair of the new inquiry Cllr Smart slams “a national scandal which pollutes our rivers and puts animals lives at risk”

Liberal Democrat run Stockport Council has become the first council in the country to launch an official Sewage Inquiry.

There is widespread outrage across Stockport after United Utilities dumped sewage into the river Mersey a staggering 977 times last year, lasting 3,271 hours. Across Stockport, the water firm discharged 13,372 hours of sewage discharges into local rivers.

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Borrowing figures: The Government have no economic competence left


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The Office for National Statistics has announced that “Public sector borrowing in December 2022 was £27.4 billion, the highest December figure since monthly records began in January 1993”.

Responding to the new, Liberal Democrat Treasury Spokesperson Sarah Olney MP said:

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22 November 2022 – today’s press releases

  • Debt figures: Conservative Chancellors have blown black hole in Britain’s finances
  • Welsh Liberal Democrats to Vote to Withhold Legislative Consent on the Northern Ireland Protocol Bill
  • OECD forecast: Damning verdict of the Government’s economic record
  • Sewage: Budget means almost £500 million less to tackle the sewage crisis
  • Levelling Up Bill: Conservative chaos to blame for cancellation of vote

Debt figures: Conservative Chancellors have blown black hole in Britain’s finances

Responding to new ONS figures showing the scale of UK government borrowing in October, Liberal Democrat Treasury spokesperson Sarah Olney said:

These figures reveal just how badly the long list of Conservative Chancellors have trashed our economy. This Government has blown a massive black hole in Britain’s finances and is now expecting hardworking families to pick up the bill.

It is a national scandal that big banks are getting massive tax cuts whilst the squeezed-middle gets clobbered with endless tax rises.

The sensible way to solve this is surely to tax the richest companies making bumper profits. We can’t trust this Conservative Government to clean up their own mess. They should never be trusted to run our country’s economy.

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21 July 2020 – today’s press releases

  • Pay rises without cash mean more cuts to schools and the police – Davey
  • Government must be clear higher debt won’t mean cuts to vital public services
  • Delyn MP must end ‘saga of scandals’
  • PM must announce a full investigation into potential Russian interference of our democracy
  • Braverman must apologise for endorsing Cummings

Pay rises without cash mean more cuts to schools and the police – Davey

Responding to reports that nearly 900,000 public sector workers will receive a pay rise out of existing departmental budgets, Liberal Democrat Acting Leader Ed Davey said:

Accepting the independent review body’s pay recommendations was the very least the Chancellor could do. Yet, as overall budgets remain unchanged, the reality is our schools, police and wider public services will struggle to meet this award without significant cuts elsewhere in their budgets, including redundancies.

And utterly failing to recognise the outstanding effort of social care staff during the COVID-19 crisis is simply not acceptable. Councils and the wider care sector must be properly funded.

Since the early days of this pandemic, Liberal Democrats have been the first to argue for a better deal for NHS and care staff, yet Ministers seem to think that warm words and hand claps are sufficient. Boris Johnson should be ashamed for neglecting NHS and care staff again.

Government must be clear higher debt won’t mean cuts to vital public services

Responding to ONS statistics showing that Government borrowing for June was £35.5 billion – around five times more than the same month last year – Acting Leader of the Liberal Democrats Ed Davey said:

In an unprecedented economic challenge like the coronavirus pandemic people must come before the numbers. Any Chancellor should go beyond normal borrowing to help protect peoples’ health and livelihoods.

What the Government must now make clear is that, after Covid, higher debt will not and must not mean cuts to vital public services or less investment for our crumbling infrastructure – especially in the parts of the UK that need it most.

Liberal Democrats stand firm that we must grow our way out of this crisis with a Green Recovery Plan that will invest billions to transform our economy, fight climate change and create millions of good-quality jobs.

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Daily View 2×2: 21 May 2020

2 big stories

One of the interesting aspects of the Coronavirus crisis is how government, and in particular the Civil Service, has coped with the disruption and the demands placed upon it. At the centre of that is HM Revenue & Customs, who have, from a standing start, have processed one million applications under the Job Retention Scheme, protecting approximately 7.5 million jobs, and more than two million applications under the Self-Employed Income Support Scheme, with well north of £10 billion claimed. And all that with the majority of their staff working from home.

Its American counterpart, the Internal Revenue Service, is …

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Opinion: Why aren’t we borrowing more?

At the moment the yield on the UK’s five year government gilts is 1.65%. What this means in plain English is that if our government wanted to borrow £1,000 it would have to pay back £1,083 in five years.

In contrast, if you or I or a business went to the bank and ask to borrow the same amount for five years we’d be looking at paying back well over £1,500 by the end of the loan.

What this tells us is that our government can borrow money very, very cheaply. It can borrow it at less than the rate of …

Posted in Op-eds | Also tagged | 22 Comments
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