Financial figures tax Osborne ahead of Britain's budget

euronews Videos21 November 2012

Britain borrowed more than expected in October up around three and a half billion euros compared to this time last year.

The figures from the Office for National Statistics add up to bad news for George Osborne. The finance minister is due to present his twice yearly fiscal update on December 5 when he was hoping to reduce the deficit and shunt the economy away from potential stagnation.

The news follows warnings by the Bank of England Governor Mervyn King last week that Britain faces a period of weak growth and rising inflation.

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