UK overshoots borrowing target
By Chris Giles, Economics Editor
Published: February 19 2009 10:33 | Last updated: February 19 2009 14:29
The public finances took a sharp turn for the worse in the crucial month of January as the recession and credit crisis hit corporate and personal tax revenues, making it almost impossible for the government to meet its borrowing target made in late November.
Banks Nationalized?
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In the official figures, the Office for National Statistics also announced it had decided that such is the government’s control over the Lloyds Banking Group that it would classify the company as a public corporation, joining Royal Bank of Scotland, Northern Rock and Bradford & Bingley as British banks with this status.
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Full Article Here: http://www.ft.com/cms/s/0/35788e96-f...nclick_check=1