Cuts? What cuts?

The ONS said the government borrowed £764m in July - down from £1.6bn in the same month last year. However, the deficit for the first four months of the 2014-15 tax year hit £37bn - up from £35.2bn at the same point of 2013-14. Britain"s national debt is now £97.8bn higher than a year ago at nearly £1.3trn or 76.5% of national income. None of that sounds like a "cut" to me! Interestingly several expert economists are now saying whay I"ve been saying for the last few years - the "cuts" have been nowhere near enough and we need savage cuts in spending if we are not to go broke sayHarris & Co accountants Northampton! #accountantsnorthampton