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EMBARGO: Immediate release

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."

ENDS

Notes to Editor:

ONS public sector finance figures released this morning:
https://www.ons.gov.uk/releases/publicsectorfinancesukoctober2022